loanDepot (NYSE:LDI) Shares Down 2.5%

loanDepot, Inc. (NYSE:LDI)’s share price was down 2.5% during trading on Wednesday . The stock traded as low as $3.09 and last traded at $3.11. Approximately 99,426 shares changed hands during trading, a decline of 81% from the average daily volume of 532,894 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th. JMP Securities reaffirmed a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st. Finally, The Goldman Sachs Group lifted their price target on shares of loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research note on Thursday, August 8th.

loanDepot Stock Performance

The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $983.71 million, a price-to-earnings ratio of -5.33 and a beta of 3.43. The company has a fifty day moving average of $2.38 and a two-hundred day moving average of $2.24.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. The firm had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. As a group, equities research analysts predict that loanDepot, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Anthony Li Hsieh sold 267,972 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $2.74, for a total transaction of $734,243.28. Following the sale, the director now directly owns 3,242,985 shares of the company’s stock, valued at approximately $8,885,778.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other loanDepot news, insider Jeff Alexander Walsh sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total transaction of $142,500.00. Following the sale, the insider now directly owns 4,122,128 shares of the company’s stock, valued at approximately $11,748,064.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Li Hsieh sold 267,972 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $2.74, for a total transaction of $734,243.28. Following the transaction, the director now owns 3,242,985 shares in the company, valued at $8,885,778.90. The disclosure for this sale can be found here. Insiders have sold 2,198,059 shares of company stock valued at $5,945,740 over the last 90 days. 83.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

Institutional investors have recently added to or reduced their stakes in the stock. 272 Capital LP boosted its holdings in loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after buying an additional 94,883 shares during the period. Dimensional Fund Advisors LP increased its position in shares of loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after purchasing an additional 158,221 shares during the last quarter. American Century Companies Inc. raised its position in shares of loanDepot by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after buying an additional 19,655 shares in the last quarter. Wolverine Asset Management LLC grew its position in loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after acquiring an additional 57,546 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after acquiring an additional 45,173 shares during the last quarter. Institutional investors 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.