loanDepot (NYSE:LDI) Stock Price Down 3.8% – What’s Next?

loanDepot, Inc. (NYSE:LDI)’s stock price traded down 3.8% on Monday . The company traded as low as $2.05 and last traded at $2.05. 10,791 shares were traded during mid-day trading, a decline of 98% from the average session volume of 560,766 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped 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 increased their price target on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

loanDepot Stock Performance

The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s 50-day simple moving average is $2.58 and its two-hundred day simple moving average is $2.24. The stock has a market cap of $682.77 million, a price-to-earnings ratio of -3.70 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 for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $265.39 million during the quarter, compared to analysts’ expectations of $267.66 million. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. Analysts forecast that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Insider Activity

In related news, Director Anthony Li Hsieh sold 639,186 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the transaction, the director now owns 2,390,460 shares of the company’s stock, valued at approximately $7,099,666.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the completion of the transaction, the insider now owns 4,035,317 shares of the company’s stock, valued at approximately $10,733,943.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony Li Hsieh sold 639,186 shares of loanDepot 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 sale, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,496,031 shares of company stock valued at $6,576,802. 83.04% of the stock is owned by company insiders.

Institutional Trading of loanDepot

A number of hedge funds have recently modified their holdings of LDI. Park Avenue Securities LLC acquired a new position in shares of loanDepot in the third quarter valued at $27,000. Empowered Funds LLC boosted its position in shares of 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 acquiring an additional 15,565 shares in the last quarter. 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 acquiring an additional 19,655 shares during the period. Cetera Advisors LLC raised its position in 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 purchasing an additional 45,173 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its stake in loanDepot by 6.0% during the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after purchasing an additional 57,546 shares during the period. Institutional investors 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.