Park Avenue Securities LLC Buys New Stake in loanDepot, Inc. (NYSE:LDI)

Park Avenue Securities LLC purchased a new position in loanDepot, Inc. (NYSE:LDI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,035 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after acquiring an additional 19,655 shares during the period. Cetera Advisors LLC raised its stake in shares of loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after acquiring an additional 45,173 shares during the last quarter. 272 Capital LP lifted its holdings in loanDepot by 107.4% during 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of loanDepot by 390.6% during the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after acquiring an additional 158,221 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $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 Stock Performance

Shares of LDI stock opened at $2.05 on Tuesday. The company has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $2.25. loanDepot, Inc. has a one year low of $1.14 and a one year high of $3.71. The stock has a market cap of $661.74 million, a P/E ratio of -3.59 and a beta of 3.43. The company has a debt-to-equity ratio of 4.69, a current ratio of 1.18 and a quick ratio of 1.18.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LDI. The Goldman Sachs Group raised their price target on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research report on Thursday, August 8th. UBS Group boosted their price objective on loanDepot from $2.30 to $2.50 and gave the company 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.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 50,000 shares of the firm’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 transaction, the insider now directly owns 4,122,128 shares of the company’s stock, valued at approximately $11,748,064.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other loanDepot news, insider Jeff Alexander Walsh sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total transaction of $142,500.00. Following the transaction, the insider now owns 4,122,128 shares in the company, valued at $11,748,064.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony Li Hsieh sold 268,689 shares of loanDepot stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.88, for a total value of $773,824.32. Following the completion of the transaction, the director now directly owns 3,510,957 shares of the company’s stock, valued at $10,111,556.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,234,870 shares of company stock worth $6,043,658 in the last ninety days. 83.04% of the stock is owned by company insiders.

loanDepot 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.