loanDepot, Inc. (NYSE:LDI) Short Interest Down 15.9% in November

loanDepot, Inc. (NYSE:LDI) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,430,000 shares, a decline of 15.9% from the November 15th total of 1,700,000 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily volume of 866,100 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

LDI has been the topic of a number of research reports. The Goldman Sachs Group upped their target price on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research report on Thursday, November 14th. UBS Group upped their target price on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th.

loanDepot Price Performance

Shares of LDI stock opened at $2.07 on Monday. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.71. The firm’s 50 day moving average is $2.26 and its 200-day moving average is $2.25. The firm has a market capitalization of $676.89 million, a price-to-earnings ratio of -3.98 and a beta of 3.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total transaction of $168,664.98. Following the sale, the insider now directly owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. The trade was a 1.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony Li Hsieh sold 255,428 shares of loanDepot stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $2.11, for a total transaction of $538,953.08. Following the sale, the director now owns 7,672,258 shares in the company, valued at approximately $16,188,464.38. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,085,785 shares of company stock valued at $2,424,974. Insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atria Investments Inc raised its stake in shares of loanDepot by 41.0% during the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after buying an additional 6,372 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of loanDepot during the third quarter worth approximately $27,000. Empowered Funds LLC raised its stake in shares of loanDepot by 5.3% during the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock worth $638,000 after buying an additional 11,792 shares during the last quarter. Jane Street Group LLC bought a new stake in loanDepot in the third quarter valued at approximately $54,000. Finally, American Century Companies Inc. increased its stake in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after purchasing an additional 19,655 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.