loanDepot (NYSE:LDI) Shares Down 4.2%

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares dropped 4.2% during mid-day trading on Thursday . The stock traded as low as $2.47 and last traded at $2.49. Approximately 115,365 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 473,418 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

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 research note on Wednesday, March 13th.

loanDepot Stock Performance

The firm has a 50 day moving average of $2.54 and a two-hundred day moving average of $2.29. The stock has a market cap of $810.96 million, a PE ratio of -4.05 and a beta of 3.13. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.23 and a quick ratio of 1.23.

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

Insider Buying and Selling

In other loanDepot news, Director Dan Binowitz sold 13,900 shares of loanDepot stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total transaction of $32,526.00. Following the transaction, the director now owns 783,251 shares of the company's stock, valued at $1,832,807.34. The transaction was disclosed in a filing with the SEC, which is available at this link. In other loanDepot news, insider Jeff Alexander Walsh sold 39,284 shares of loanDepot stock in a transaction that occurred 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 transaction, the insider now owns 3,954,678 shares of the company's stock, valued at $10,400,803.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dan Binowitz sold 13,900 shares of the business's stock in a transaction that occurred 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 directly owns 783,251 shares in the company, valued at approximately $1,832,807.34. The disclosure for this sale can be found here. 83.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cannell Capital LLC increased its holdings in shares of loanDepot by 19.5% in the third quarter. Cannell Capital LLC now owns 5,396,445 shares of the company's stock valued at $9,282,000 after purchasing an additional 879,650 shares during the period. Wolverine Asset Management LLC grew its holdings in loanDepot by 27.9% during the third quarter. Wolverine Asset Management LLC now owns 674,832 shares of the company's stock worth $1,161,000 after acquiring an additional 147,198 shares during the period. Knightsbridge Asset Management LLC grew its holdings in loanDepot by 6.6% during the third quarter. Knightsbridge Asset Management LLC now owns 2,800,039 shares of the company's stock worth $4,816,000 after acquiring an additional 172,802 shares during the period. Jane Street Group LLC grew its holdings in loanDepot by 26.2% during the second quarter. Jane Street Group LLC now owns 27,513 shares of the company's stock worth $40,000 after acquiring an additional 5,711 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in loanDepot during the second quarter worth $33,000. Institutional investors and hedge funds own 39.39% of the company's stock.

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.