loanDepot (NYSE:LDI) Shares Up 4% – Here’s Why

loanDepot, Inc. (NYSE:LDI)’s share price rose 4% during trading on Tuesday . The stock traded as high as $2.12 and last traded at $2.10. Approximately 135,085 shares were traded during trading, a decline of 76% from the average daily volume of 560,312 shares. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LDI. UBS Group upped their price target 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 increased their price target on loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research note on Thursday, August 8th. Finally, JMP Securities reissued a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Stock Performance

The company’s 50-day moving average price is $2.59 and its two-hundred day moving average price is $2.25. The company has a market cap of $715.13 million, a P/E ratio of -3.88 and a beta of 3.43. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.69.

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

Insider Buying and Selling

In other news, Director Anthony Li Hsieh sold 242,355 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $2.04, for a total transaction of $494,404.20. Following the completion of the sale, the director now directly owns 3,154,253 shares of the company’s stock, valued at $6,434,676.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jeff Alexander Walsh sold 36,811 shares of loanDepot stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total value of $97,917.26. Following the transaction, the insider now directly owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony Li Hsieh sold 242,355 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $2.04, for a total transaction of $494,404.20. Following the sale, the director now owns 3,154,253 shares in the company, valued at $6,434,676.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,496,031 shares of company stock worth $6,576,802 in the last three months. 83.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently added to or reduced their stakes in LDI. Wolverine Asset Management LLC boosted its position in shares of loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after buying an additional 57,546 shares during the period. DC Investments Management LLC purchased a new stake in loanDepot in the 1st quarter worth about $559,000. Empowered Funds LLC boosted its position in 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 acquiring an additional 15,565 shares during the period. Dimensional Fund Advisors LP grew its stake in loanDepot by 390.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after acquiring an additional 158,221 shares in the last quarter. Finally, 272 Capital LP increased its holdings in shares of loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after purchasing an additional 94,883 shares during the period. 39.39% of the stock is currently 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.