loanDepot (NYSE:LDI) Sees Strong Trading Volume

loanDepot, Inc. (NYSE:LDI) shares saw unusually-strong trading volume on Tuesday . Approximately 414,032 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 528,770 shares.The stock last traded at $3.04 and had previously closed at $2.90.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LDI. The Goldman Sachs Group lifted their price target on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research note on Thursday, August 8th. UBS Group lifted 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. Finally, JMP Securities reiterated a “market perform” rating on shares of loanDepot in a report on Friday, June 21st.

loanDepot Stock Down 5.8 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69. The firm has a market capitalization of $972.39 million, a PE ratio of -5.27 and a beta of 3.43. The business’s 50-day moving average price is $2.41 and its 200-day moving average price is $2.24.

loanDepot (NYSE:LDI) last issued its earnings results 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 company had revenue of $265.39 million during the quarter, compared to analyst estimates of $267.66 million. As a group, equities research analysts predict that loanDepot, Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 639,186 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $2.97, for a total value of $1,898,382.42. Following the transaction, the director now directly owns 2,390,460 shares of the company’s stock, valued at approximately $7,099,666.20. The sale 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 dated Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total value of $142,500.00. Following the completion of the sale, the insider now owns 4,122,128 shares of the company’s stock, valued at $11,748,064.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony Li Hsieh sold 639,186 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $2.97, for a total value of $1,898,382.42. Following the transaction, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,198,059 shares of company stock valued at $5,945,740. Insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new stake in shares of loanDepot during the 4th quarter worth $81,000. CastleKnight Management LP bought a new stake in loanDepot during the fourth quarter valued at about $1,644,000. Cullen Capital Management LLC bought a new stake in loanDepot during the fourth quarter valued at about $150,000. G2 Investment Partners Management LLC acquired a new stake in shares of loanDepot in the fourth quarter valued at about $792,000. Finally, Empowered Funds LLC increased its stake in shares of loanDepot by 8.2% in the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after purchasing an additional 15,565 shares during the period. 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.