loanDepot, Inc. (NYSE:LDI) Sees Significant Growth in Short Interest

loanDepot, Inc. (NYSE:LDI) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, an increase of 54.4% from the February 28th total of 1,710,000 shares. Based on an average daily volume of 964,900 shares, the short-interest ratio is presently 2.7 days. Currently, 3.6% of the company’s shares are sold short.

Hedge Funds Weigh In On loanDepot

Large investors have recently modified their holdings of the business. Alpine Global Management LLC acquired a new stake in shares of loanDepot in the fourth quarter valued at about $33,000. Focus Partners Advisor Solutions LLC increased its position in shares of loanDepot by 157.1% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 45,000 shares of the company’s stock worth $92,000 after purchasing an additional 27,500 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of loanDepot by 169.5% during the 4th quarter. Squarepoint Ops LLC now owns 37,764 shares of the company’s stock worth $77,000 after purchasing an additional 23,752 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of loanDepot in the 4th quarter valued at approximately $95,000. Finally, Two Sigma Investments LP grew its stake in shares of loanDepot by 345.6% in the fourth quarter. Two Sigma Investments LP now owns 131,098 shares of the company’s stock valued at $267,000 after buying an additional 101,677 shares in the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their target price on shares of loanDepot from $2.00 to $1.35 and set a “neutral” rating for the company in a report on Friday, March 14th.

loanDepot Stock Down 2.8 %

Shares of NYSE:LDI traded down $0.04 during midday trading on Friday, reaching $1.20. 1,233,613 shares of the company were exchanged, compared to its average volume of 738,338. The firm has a market cap of $392.30 million, a PE ratio of -2.30, a P/E/G ratio of 0.25 and a beta of 3.36. loanDepot has a fifty-two week low of $1.16 and a fifty-two week high of $3.23. The stock has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $2.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76.

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.