loanDepot (NYSE:LDI) Shares Gap Up – What’s Next?

loanDepot, Inc. (NYSE:LDI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.07, but opened at $2.15. loanDepot shares last traded at $2.06, with a volume of 108,882 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on LDI shares. UBS Group boosted their target price on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their price objective on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research note on Thursday, August 8th.

loanDepot Price Performance

The firm has a market cap of $703.95 million, a PE ratio of -3.49 and a beta of 3.46. The firm’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $2.21. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69.

loanDepot (NYSE:LDI) last issued its quarterly 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 during the quarter, compared to analyst estimates of $267.66 million. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. As a group, research analysts expect that loanDepot, Inc. will post -0.31 EPS for the current year.

Insider Transactions at loanDepot

In related news, insider Jeff Alexander Walsh sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total value of $142,500.00. Following the transaction, the insider now directly owns 4,122,128 shares of the company’s stock, valued at approximately $11,748,064.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other loanDepot news, insider Jeff Alexander Walsh sold 50,000 shares of the stock in a transaction that occurred 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 directly 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 through the SEC website. Also, Director Anthony Li Hsieh sold 639,186 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $2.97, for a total transaction 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 $7,099,666.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,751,459 shares of company stock valued at $7,115,755 over the last 90 days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in LDI. Atria Investments Inc increased its stake in loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after acquiring an additional 6,372 shares during the last quarter. Park Avenue Securities LLC bought a new stake in loanDepot in the third quarter worth $27,000. Empowered Funds LLC raised its stake in loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after purchasing an additional 15,565 shares in the last quarter. American Century Companies Inc. raised its stake 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 purchasing an additional 19,655 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after purchasing an additional 45,173 shares during the last quarter. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.