loanDepot (NYSE:LDI) Stock Price Up 7.9%

loanDepot, Inc. (NYSE:LDI)’s share price traded up 7.9% during mid-day trading on Friday . The company traded as high as $2.46 and last traded at $2.46. 120,267 shares were traded during trading, a decline of 77% from the average session volume of 519,084 shares. The stock had previously closed at $2.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st. The Goldman Sachs Group raised their price objective on shares of loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a report on Thursday, August 8th. Finally, UBS Group upped their target price on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, September 5th.

loanDepot Stock Up 17.1 %

The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $2.24. The stock has a market capitalization of $863.99 million, a PE ratio of -4.68 and a beta of 3.43.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. The business had revenue of $265.39 million for the quarter, compared to analyst estimates of $267.66 million. As a group, analysts expect that loanDepot, Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 50,000 shares of the stock in a transaction 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 sale, the insider now directly owns 4,122,128 shares of the company’s stock, valued at $11,748,064.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other loanDepot news, Director Anthony Li Hsieh sold 267,972 shares of loanDepot stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $2.74, for a total value of $734,243.28. Following the completion of the transaction, the director now directly owns 3,242,985 shares of the company’s stock, valued at $8,885,778.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider now owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The disclosure for this sale can be found here. Insiders sold a total of 2,187,918 shares of company stock valued at $5,919,678 in the last 90 days. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC raised its stake 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 purchasing an additional 57,546 shares during the last quarter. CastleKnight Management LP bought a new position in loanDepot during the 4th quarter valued at about $1,644,000. G2 Investment Partners Management LLC purchased a new stake in shares of loanDepot during the 4th quarter valued at about $792,000. DC Investments Management LLC purchased a new stake in shares of loanDepot during the 1st quarter valued at about $559,000. Finally, Empowered Funds LLC grew its stake in shares of loanDepot by 8.2% in the first 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. 39.39% of the stock is owned by 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.