Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) traded up 7.9% on Wednesday . The company traded as high as $3.20 and last traded at $3.23. 1,485,939 shares were traded during trading, a decline of 57% from the average session volume of 3,420,680 shares. The stock had previously closed at $2.99.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. BTIG Research restated a "neutral" rating on shares of loanDepot in a research report on Wednesday, September 10th. Wall Street Zen raised shares of loanDepot from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of loanDepot in a report on Wednesday, October 8th. Finally, UBS Group lifted their target price on shares of loanDepot from $1.90 to $3.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, loanDepot has a consensus rating of "Reduce" and a consensus target price of $2.85.
View Our Latest Report on LDI
loanDepot Stock Performance
The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18. The stock's fifty day moving average price is $2.79 and its 200-day moving average price is $1.84. The company has a market capitalization of $1.03 billion, a P/E ratio of -9.44 and a beta of 3.45.
Insider Activity at loanDepot
In related news, CAO Darren Graeler sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $4.30, for a total transaction of $430,000.00. Following the sale, the chief accounting officer owned 219,871 shares in the company, valued at approximately $945,445.30. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Li Hsieh sold 1,350,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $4.61, for a total transaction of $6,223,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,470,160 shares of company stock worth $40,335,701 in the last quarter. 83.04% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Financial Advisors Inc. lifted its stake in shares of loanDepot by 60.0% during the 1st quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company's stock valued at $48,000 after buying an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in loanDepot by 1,671.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock worth $780,000 after acquiring an additional 618,153 shares during the period. Invesco Ltd. bought a new stake in loanDepot during the 1st quarter worth approximately $44,000. Persistent Asset Partners Ltd bought a new stake in loanDepot during the 1st quarter worth approximately $145,000. Finally, Focus Partners Advisor Solutions LLC increased its holdings in loanDepot by 122.2% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 100,000 shares of the company's stock worth $119,000 after acquiring an additional 55,000 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.
loanDepot Company Profile
(
Get Free Report)
loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.
See Also
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