loanDepot, Inc. (NYSE:LDI) Short Interest Down 24.8% in November

loanDepot, Inc. (NYSE:LDI) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,700,000 shares, a decrease of 24.8% from the October 31st total of 2,260,000 shares. Based on an average trading volume of 867,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.4% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price target on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research report on Thursday, November 14th.

loanDepot Stock Down 2.2 %

Shares of NYSE LDI traded down $0.05 during mid-day trading on Friday, reaching $2.25. 236,423 shares of the company were exchanged, compared to its average volume of 978,659. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.71. The firm has a 50-day moving average of $2.36 and a 200 day moving average of $2.24. The stock has a market cap of $735.75 million, a price-to-earnings ratio of -4.33 and a beta of 3.46. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insiders Place Their Bets

In other news, Director Anthony Li Hsieh sold 83,667 shares of loanDepot stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $2.34, for a total transaction of $195,780.78. Following the completion of the sale, the director now owns 5,684,228 shares of the company’s stock, valued at approximately $13,301,093.52. The trade was a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeff Alexander Walsh sold 66,666 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the completion of the transaction, the insider now directly owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,669,223 shares of company stock worth $3,860,834 over the last quarter. Company insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Several hedge funds have recently modified their holdings of the company. Atria Investments Inc lifted its holdings in shares of loanDepot by 41.0% during the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after purchasing an additional 6,372 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in loanDepot in the third quarter valued at about $27,000. Empowered Funds LLC boosted its holdings in loanDepot by 5.3% in the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock worth $638,000 after acquiring an additional 11,792 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of loanDepot during the third quarter worth about $54,000. Finally, American Century Companies Inc. increased its holdings in shares of 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 in the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.