loanDepot (NYSE:LDI) Trading 7.2% Higher - Here's What Happened

Key Points

• loanDepot's stock price rose by 7.2% during mid-day trading, reaching $1.71 from a previous close of $1.59.
• UBS Group increased their price target for loanDepot shares from $1.25 to $1.40 while maintaining a "neutral" rating.
• CEO Anthony Li Hsieh sold 672,865 shares at an average price of $2.02, leading to a 6.64% decrease in his overall shareholding.

loanDepot, Inc. (NYSE:LDI - Get Free Report) was up 7.2% during trading on Friday . The company traded as high as $1.69 and last traded at $1.71. Approximately 464,873 shares were traded during trading, a decline of 58% from the average daily volume of 1,113,395 shares. The stock had previously closed at $1.59.

Analyst Upgrades and Downgrades

Separately, UBS Group boosted their target price on shares of loanDepot from $1.25 to $1.40 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th.

loanDepot Trading Up 5.3%

The business's 50-day moving average price is $1.46 and its 200 day moving average price is $1.42. The company has a debt-to-equity ratio of 6.48, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $552.60 million, a price-to-earnings ratio of -3.72 and a beta of 3.35.

loanDepot (NYSE:LDI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The company had revenue of $273.62 million during the quarter, compared to the consensus estimate of $275.11 million. loanDepot had a negative return on equity of 18.41% and a negative net margin of 7.74%. On average, equities analysts forecast that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 37,514 shares of loanDepot stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $2.00, for a total value of $75,028.00. Following the completion of the sale, the insider owned 4,103,237 shares in the company, valued at approximately $8,206,474. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Li Hsieh sold 267,326 shares of loanDepot stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $2.01, for a total transaction of $537,325.26. Following the completion of the sale, the chief executive officer owned 9,072,771 shares of the company's stock, valued at approximately $18,236,269.71. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,182,412 shares of company stock valued at $2,381,655. Insiders own 78.05% of the company's stock.

Institutional Trading of loanDepot

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in loanDepot by 167.1% during the fourth quarter. Millennium Management LLC now owns 650,987 shares of the company's stock valued at $1,328,000 after purchasing an additional 407,299 shares during the last quarter. Geode Capital Management LLC increased its stake in loanDepot by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 775,097 shares of the company's stock valued at $1,582,000 after purchasing an additional 54,350 shares during the last quarter. Tidal Investments LLC bought a new stake in loanDepot during the fourth quarter valued at $1,691,000. Marshall Wace LLP increased its stake in loanDepot by 132.2% during the fourth quarter. Marshall Wace LLP now owns 465,297 shares of the company's stock valued at $949,000 after purchasing an additional 264,928 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in loanDepot by 345.6% during the fourth quarter. Two Sigma Investments LP now owns 131,098 shares of the company's stock valued at $267,000 after purchasing an additional 101,677 shares during the last quarter. Institutional investors own 39.39% of the company's stock.

About loanDepot

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.