loanDepot (NYSE:LDI) Shares Down 6.9% on Insider Selling

loanDepot, Inc. (NYSE:LDI)’s share price traded down 6.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $2.41 and last traded at $2.41. 134,627 shares traded hands during trading, a decline of 74% from the average session volume of 511,834 shares. The stock had previously closed at $2.59.

Specifically, insider Jeff Alexander Walsh sold 82,141 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $3.02, for a total value of $248,065.82. Following the transaction, the insider now owns 3,993,962 shares of the company’s stock, valued at $12,061,765.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Dan Binowitz sold 13,900 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total transaction of $32,526.00. Following the completion of the sale, the director now owns 783,251 shares in the company, valued at $1,832,807.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff Alexander Walsh sold 82,141 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $3.02, for a total value of $248,065.82. Following the sale, the insider now owns 3,993,962 shares of the company’s stock, valued at approximately $12,061,765.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,325 shares of company stock valued at $383,909. 83.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on loanDepot from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Wednesday, March 13th. UBS Group assumed coverage on loanDepot in a research report on Wednesday, December 6th. They set a “neutral” rating and a $2.00 target price for the company.

loanDepot Price Performance

The firm has a market cap of $791.57 million, a PE ratio of -3.89 and a beta of 3.13. The firm has a fifty day simple moving average of $2.62 and a two-hundred day simple moving average of $2.23. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.26 and a current ratio of 1.23.

Hedge Funds Weigh In On loanDepot

Institutional investors have recently added to or reduced their stakes in the company. HRT Financial LP purchased a new position in shares of loanDepot in the 1st quarter worth approximately $32,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of loanDepot in the 3rd quarter worth approximately $32,000. Envestnet Asset Management Inc. purchased a new position in shares of loanDepot in the 2nd quarter worth approximately $33,000. Jane Street Group LLC boosted its holdings in shares of loanDepot by 26.2% in the 2nd quarter. Jane Street Group LLC now owns 27,513 shares of the company’s stock worth $40,000 after purchasing an additional 5,711 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of loanDepot by 106.0% in the 4th quarter. LPL Financial LLC now owns 26,297 shares of the company’s stock worth $43,000 after purchasing an additional 13,530 shares during the period. Hedge funds and other institutional investors own 53.01% of the company’s stock.

loanDepot Company Profile

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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.