loanDepot (NYSE:LDI) Shares Up 4% – Still a Buy?

loanDepot, Inc. (NYSE:LDI)’s stock price was up 4% during trading on Tuesday . The company traded as high as $2.12 and last traded at $2.10. 135,085 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 560,312 shares. The stock had previously closed at $2.02.

Analysts Set New Price Targets

A number of research firms have issued reports on LDI. The Goldman Sachs Group lifted their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st. Finally, UBS Group upped their price objective on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, September 5th.

loanDepot Stock Up 8.3 %

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 business has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $2.25. The stock has a market cap of $715.13 million, a P/E ratio of -3.88 and a beta of 3.43.

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, 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. Analysts expect that loanDepot, Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at loanDepot

In other news, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot 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 transaction, the insider now directly owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Anthony Li Hsieh sold 18,806 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $2.06, for a total transaction of $38,740.36. Following the completion of the transaction, the director now directly owns 2,927,686 shares in the company, valued at $6,031,033.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Alexander Walsh sold 50,000 shares of the stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 2,496,031 shares of company stock worth $6,576,802 over the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after buying an additional 15,565 shares in the last quarter. DC Investments Management LLC bought a new stake in shares of loanDepot in the 1st quarter worth approximately $559,000. Cetera Advisors LLC grew its holdings in shares of loanDepot by 66.3% during the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after purchasing an additional 45,173 shares in the last quarter. Wolverine Asset Management LLC increased its position 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. Finally, American Century Companies Inc. raised its stake in shares of 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. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.