loanDepot, Inc. (NYSE:LDI) Short Interest Update

loanDepot, Inc. (NYSE:LDI) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,610,000 shares, a growth of 8.8% from the August 15th total of 2,400,000 shares. Based on an average daily volume of 619,300 shares, the days-to-cover ratio is presently 4.2 days. Approximately 4.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts recently commented on LDI shares. UBS Group increased their price target on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th. The Goldman Sachs Group lifted their target price on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a report on Thursday, August 8th. Finally, JMP Securities reissued a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st.

Insider Transactions at loanDepot

In related news, Director Anthony Li Hsieh sold 268,689 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.88, for a total transaction 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. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Anthony Li Hsieh sold 268,689 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.88, for a total transaction of $773,824.32. Following the sale, the director now directly owns 3,510,957 shares of the company’s stock, valued at approximately $10,111,556.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff Alexander Walsh sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total value of $142,500.00. Following the transaction, the insider now owns 4,122,128 shares of the company’s stock, valued at $11,748,064.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,198,059 shares of company stock valued at $5,945,740. 83.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On loanDepot

Several hedge funds have recently bought and sold shares of the business. Wolverine Asset Management LLC boosted its stake in shares of loanDepot by 6.0% during the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock valued at $1,683,000 after purchasing an additional 57,546 shares during the period. CastleKnight Management LP purchased a new stake in loanDepot in the 4th quarter valued at about $1,644,000. G2 Investment Partners Management LLC bought a new position in loanDepot in the 4th quarter worth about $792,000. DC Investments Management LLC purchased a new position in shares of loanDepot during the first quarter worth approximately $559,000. Finally, Empowered Funds LLC raised its stake in shares of loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after acquiring an additional 15,565 shares in the last quarter. Institutional investors own 39.39% of the company’s stock.

loanDepot Trading Down 5.8 %

Shares of loanDepot stock traded down $0.19 during trading on Wednesday, hitting $3.01. The stock had a trading volume of 1,658,382 shares, compared to its average volume of 541,821. The stock has a market cap of $972.39 million, a PE ratio of -5.26 and a beta of 3.43. loanDepot has a 12 month low of $1.14 and a 12 month high of $3.71. The firm’s fifty day simple moving average is $2.38 and its 200-day simple moving average is $2.24. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. As a group, sell-side analysts expect that loanDepot will post -0.31 EPS for the current fiscal year.

About loanDepot

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.