loanDepot (NYSE:LDI) Sees Large Volume Increase – Should You Buy?

loanDepot, Inc. (NYSE:LDI) shares saw an uptick in trading volume on Wednesday . 1,356,103 shares were traded during mid-day trading, an increase of 138% from the previous session’s volume of 569,171 shares.The stock last traded at $2.05 and had previously closed at $2.11.

Analysts Set New Price Targets

Several brokerages have commented on LDI. 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. The Goldman Sachs Group boosted their target price on shares of loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research report on Thursday, August 8th.

loanDepot Trading Down 0.9 %

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 company has a market capitalization of $676.30 million, a P/E ratio of -3.65 and a beta of 3.43. The company has a 50-day simple moving average of $2.57 and a 200 day simple moving average of $2.23.

loanDepot (NYSE:LDI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $265.39 million for the quarter, compared to analyst estimates of $267.66 million. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. Sell-side analysts expect that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Insider Activity at loanDepot

In other news, Director Anthony Li Hsieh sold 18,806 shares of loanDepot stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.06, for a total transaction of $38,740.36. Following the sale, the director now owns 2,927,686 shares of the company’s stock, valued at approximately $6,031,033.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Anthony Li Hsieh sold 18,806 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $2.06, for a total value of $38,740.36. Following the completion of the transaction, the director now owns 2,927,686 shares in the company, valued at approximately $6,031,033.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of loanDepot 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 sale, the insider now owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. 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 90 days, insiders sold 2,496,031 shares of company stock worth $6,576,802. Company insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of LDI. Empowered Funds LLC increased 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 worth $533,000 after purchasing an additional 15,565 shares in the last quarter. DC Investments Management LLC bought a new position in shares of loanDepot in the first quarter valued at approximately $559,000. Cetera Advisors LLC boosted its holdings in shares of 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 in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of 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. Finally, American Century Companies Inc. grew its position in loanDepot by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after acquiring an additional 19,655 shares during the last quarter. Institutional investors 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.