loanDepot (NYSE:LDI) Shares Up 3.7%

loanDepot, Inc. (NYSE:LDI) shares shot up 3.7% during mid-day trading on Tuesday . The company traded as high as $1.67 and last traded at $1.67. 500 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 447,690 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LDI. The Goldman Sachs Group cut their target price on loanDepot from $2.25 to $1.50 and set a “sell” rating on the stock in a report on Tuesday. JMP Securities restated a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Trading Up 3.2 %

The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day simple moving average of $1.97 and a two-hundred day simple moving average of $2.46.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) earnings per share 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 company had revenue of $222.79 million for the quarter, compared to the consensus estimate of $232.65 million. As a group, sell-side analysts forecast that loanDepot, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at loanDepot

In other news, Director Anthony Li Hsieh sold 58,063 shares of loanDepot stock in a transaction on Friday, June 14th. The stock was sold at an average price of $1.84, for a total transaction of $106,835.92. Following the sale, the director now directly owns 2,279,646 shares in the company, valued at approximately $4,194,548.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other loanDepot news, CEO Frank Martell bought 25,000 shares of the stock in a transaction dated Friday, June 7th. The shares were bought 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anthony Li Hsieh sold 58,063 shares of loanDepot stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $1.84, for a total value of $106,835.92. Following the completion of the sale, the director now directly owns 2,279,646 shares of the company’s stock, valued at approximately $4,194,548.64. The disclosure for this sale can be found here. Insiders have sold 677,520 shares of company stock worth $1,358,805 in the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several large investors have recently added to or reduced their stakes in LDI. Cannell Capital LLC increased its holdings in loanDepot by 19.5% in the 3rd quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock worth $9,282,000 after acquiring an additional 879,650 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in loanDepot by 58.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock worth $3,773,000 after acquiring an additional 397,095 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in loanDepot in the 4th quarter worth about $106,000. Jump Financial LLC purchased a new stake in loanDepot in the 4th quarter worth about $81,000. Finally, CastleKnight Management LP purchased a new stake in loanDepot in the 4th quarter worth about $1,644,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.