loanDepot, Inc. (NYSE:LDI) Short Interest Down 24.8% in November

loanDepot, Inc. (NYSE:LDI) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,700,000 shares, a decrease of 24.8% from the October 31st total of 2,260,000 shares. Based on an average trading volume of 867,600 shares, the short-interest ratio is currently 2.0 days. Currently, 2.4% of the shares of the company are sold short.

loanDepot Stock Performance

LDI traded down $0.05 on Friday, reaching $2.25. The stock had a trading volume of 236,423 shares, compared to its average volume of 978,659. The business’s 50-day moving average price is $2.36 and its two-hundred day moving average price is $2.24. The company has a market cap of $735.75 million, a P/E ratio of -4.33 and a beta of 3.46. loanDepot has a 12-month low of $1.52 and a 12-month high of $3.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research note on Thursday, November 14th. UBS Group boosted 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.

Insider Activity at loanDepot

In other news, Director Anthony Li Hsieh sold 239,729 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $2.44, for a total value of $584,938.76. Following the sale, the director now owns 3,248,070 shares in the company, valued at $7,925,290.80. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total transaction of $97,917.26. Following the transaction, the insider now directly owns 4,035,317 shares of the company’s stock, valued at approximately $10,733,943.22. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,669,223 shares of company stock valued at $3,860,834 in the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC increased its holdings in loanDepot by 6.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after acquiring an additional 57,546 shares in the last quarter. Barclays PLC purchased a new stake in loanDepot during the 3rd quarter worth approximately $2,180,000. Geode Capital Management LLC raised its holdings in shares of loanDepot by 21.0% during the third quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock valued at $1,968,000 after acquiring an additional 125,059 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of loanDepot in the third quarter valued at approximately $897,000. Finally, Empowered Funds LLC boosted its stake in shares of loanDepot by 5.3% in the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock worth $638,000 after acquiring an additional 11,792 shares during the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

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.