loanDepot (NYSE:LDI) Shares Gap Up to $1.61

loanDepot, Inc. (NYSE:LDI) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.61, but opened at $1.69. loanDepot shares last traded at $1.62, with a volume of 29,811 shares.

Wall Street Analyst Weigh In

LDI has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Wednesday, March 13th. JMP Securities restated a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st.

loanDepot Stock Performance

The company has a debt-to-equity ratio of 4.80, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day simple moving average is $2.02 and its 200-day simple moving average is $2.48.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.15). loanDepot had a negative net margin of 10.26% and a negative return on equity of 19.52%. The business had revenue of $222.79 million during the quarter, compared to analysts’ expectations of $232.65 million. On average, equities analysts predict that loanDepot, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 38,504 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total value of $78,163.12. Following the sale, the director now owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Anthony Li Hsieh sold 38,504 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total transaction of $78,163.12. Following the transaction, the director now owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Martell acquired 25,000 shares of loanDepot stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $2.09 per share, for a total transaction of $52,250.00. Following the purchase, the chief executive officer now directly owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The disclosure for this purchase can be found here. Insiders have sold 677,520 shares of company stock valued at $1,358,805 over the last quarter. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently modified their holdings of LDI. Jump Financial LLC purchased a new position in loanDepot during the fourth quarter worth approximately $81,000. Counterpoint Mutual Funds LLC purchased a new position in loanDepot during the fourth quarter worth approximately $106,000. Cullen Capital Management LLC purchased a new position in loanDepot during the fourth quarter worth approximately $150,000. Cetera Advisors LLC raised its stake in loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after purchasing an additional 45,173 shares during the period. Finally, 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 worth $533,000 after purchasing an additional 15,565 shares during the period. 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.