loanDepot (NYSE:LDI) Shares Down 4.3% – What’s Next?

loanDepot, Inc. (NYSE:LDI) shares traded down 4.3% during mid-day trading on Friday . The company traded as low as $1.67 and last traded at $1.67. 65,078 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 662,033 shares. The stock had previously closed at $1.74.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their target price on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th.

loanDepot Trading Down 4.9 %

The business’s fifty day moving average price is $1.90 and its 200 day moving average price is $2.24. The firm has a market capitalization of $541.19 million, a PE ratio of -3.18, a P/E/G ratio of 0.26 and a beta of 3.37. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insider Transactions at loanDepot

In other news, Director Anthony Li Hsieh sold 444,618 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $2.11, for a total transaction of $938,143.98. Following the completion of the sale, the director now directly owns 2,479,960 shares in the company, valued at $5,232,715.60. This represents a 15.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 1,037,264 shares of company stock worth $2,293,524 over the last quarter. 83.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in the business. Atria Investments Inc lifted its stake in shares of loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after acquiring an additional 6,372 shares in the last quarter. Park Avenue Securities LLC bought a new position in loanDepot during the 3rd quarter valued at $27,000. Empowered Funds LLC grew its holdings in loanDepot by 5.0% during the 4th quarter. Empowered Funds LLC now owns 245,189 shares of the company’s stock worth $500,000 after acquiring an additional 11,647 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of loanDepot in the 3rd quarter worth about $54,000. Finally, Verition Fund Management LLC raised its stake in shares of loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after purchasing an additional 41,767 shares in the last quarter. Hedge funds and other 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.