loanDepot (NYSE:LDI) Shares Gap Up to $1.61

loanDepot, Inc. (NYSE:LDI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.61, but opened at $1.69. loanDepot shares last traded at $1.62, with a volume of 29,811 shares changing hands.

Wall Street Analyst Weigh In

LDI has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of loanDepot from $3.00 to $2.50 and set a “sell” rating for the company in a report on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of loanDepot in a report on Friday, June 21st.

loanDepot Stock Performance

The stock’s 50-day moving average price is $2.02 and its 200 day moving average price is $2.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 4.80.

loanDepot (NYSE:LDI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The business had revenue of $222.79 million during the quarter, compared to the consensus estimate of $232.65 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. Analysts anticipate that loanDepot, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at loanDepot

In other loanDepot news, CEO Frank Martell acquired 25,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $2.09 per share, with a total value of $52,250.00. Following the completion of the transaction, the chief executive officer now directly owns 386,846 shares in the company, valued at approximately $808,508.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Frank Martell purchased 25,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $2.09 per share, with a total value of $52,250.00. Following the completion of the transaction, the chief executive officer now owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anthony Li Hsieh sold 58,063 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $1.84, for a total transaction of $106,835.92. Following the sale, the director now directly owns 2,279,646 shares in the company, valued at $4,194,548.64. The disclosure for this sale can be found here. Insiders have sold a total of 677,520 shares of company stock valued at $1,358,805 over the last 90 days. 83.04% of the stock is owned by corporate insiders.

Institutional Trading of loanDepot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cannell Capital LLC raised its position 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. CastleKnight Management LP bought a new position in shares of loanDepot in the fourth quarter valued at about $1,644,000. Wolverine Asset Management LLC raised its position in shares of loanDepot by 58.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock valued at $3,773,000 after purchasing an additional 397,095 shares during the period. G2 Investment Partners Management LLC bought a new position in shares of loanDepot in the fourth quarter valued at about $792,000. Finally, DC Investments Management LLC bought a new position in shares of loanDepot in the first quarter valued at about $559,000. 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.