loanDepot (NYSE:LDI) Shares Gap Down to $2.36

loanDepot, Inc. (NYSE:LDI - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $2.36, but opened at $2.30. loanDepot shares last traded at $2.32, with a volume of 222,942 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their price objective on loanDepot from $3.00 to $2.50 and set a "sell" rating for the company in a report on Wednesday, March 13th.

loanDepot Trading Down 2.3 %

The company has a fifty day moving average of $2.52 and a 200-day moving average of $2.32. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $744.72 million, a PE ratio of -3.67 and a beta of 3.13.

loanDepot (NYSE:LDI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.11). loanDepot had a negative net margin of 11.31% and a negative return on equity of 20.63%. The business had revenue of $228.63 million during the quarter, compared to analyst estimates of $239.40 million. On average, sell-side analysts anticipate that loanDepot, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeff Alexander Walsh sold 39,284 shares of the business's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $2.63, for a total value of $103,316.92. Following the completion of the transaction, the insider now owns 3,954,678 shares in the company, valued at approximately $10,400,803.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dan Binowitz sold 13,900 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2.34, for a total value of $32,526.00. Following the completion of the transaction, the director now owns 783,251 shares of the company's stock, valued at approximately $1,832,807.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Alexander Walsh sold 39,284 shares of the company's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $2.63, for a total transaction of $103,316.92. Following the completion of the transaction, the insider now directly owns 3,954,678 shares of the company's stock, valued at $10,400,803.14. The disclosure for this sale can be found here. 83.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On loanDepot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of loanDepot by 61.8% in the 1st quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company's stock valued at $10,047,000 after purchasing an additional 925,002 shares during the period. Cannell Capital LLC raised its holdings in loanDepot by 19.5% in the 3rd quarter. Cannell Capital LLC now owns 5,396,445 shares of the company's stock valued at $9,282,000 after acquiring an additional 879,650 shares during the period. Bridgeway Capital Management LLC raised its holdings in loanDepot by 208.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,103,009 shares of the company's stock valued at $3,883,000 after acquiring an additional 744,978 shares during the period. CastleKnight Management LP acquired a new position in shares of loanDepot during the 4th quarter worth approximately $1,644,000. Finally, Wolverine Asset Management LLC grew its position in shares of loanDepot by 58.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company's stock worth $3,773,000 after purchasing an additional 397,095 shares in the last quarter. 39.39% of the stock is owned by institutional investors.

loanDepot Company Profile

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.