loanDepot (NYSE:LDI) Trading Down 5.1% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI) fell 5.1% on Thursday . The company traded as low as $2.04 and last traded at $2.06. 230,077 shares changed hands during trading, a decline of 59% from the average session volume of 555,361 shares. The stock had previously closed at $2.17.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LDI. JMP Securities reiterated a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st. UBS Group raised their price objective on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, 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.

loanDepot Stock Up 4.4 %

The company has a market capitalization of $692.57 million, a price-to-earnings ratio of -3.44 and a beta of 3.43. 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 moving average price of $2.60 and a 200-day moving average price of $2.26.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $265.39 million during the quarter, compared to analyst estimates of $267.66 million. As a group, equities analysts anticipate that loanDepot, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot 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 approximately $11,748,064.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other loanDepot news, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot 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 owns 4,122,128 shares of the company’s stock, valued at $11,748,064.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anthony Li Hsieh sold 639,186 shares of the company’s 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 completion of the transaction, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,234,870 shares of company stock valued at $6,043,658. Company insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of loanDepot by 8.2% in 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. DC Investments Management LLC acquired a new position in loanDepot during the first quarter valued at approximately $559,000. Cetera Advisors LLC raised its holdings in loanDepot by 66.3% in the 1st 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 period. Wolverine Asset Management LLC lifted its position in loanDepot by 6.0% during 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 during the last quarter. Finally, American Century Companies Inc. boosted its holdings in loanDepot by 27.3% during 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. 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.