Geode Capital Management LLC Purchases 125,059 Shares of loanDepot, Inc. (NYSE:LDI)

Geode Capital Management LLC grew its position in loanDepot, Inc. (NYSE:LDI) by 21.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 720,747 shares of the company’s stock after buying an additional 125,059 shares during the period. Geode Capital Management LLC owned approximately 0.22% of loanDepot worth $1,968,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LDI. Barclays PLC acquired a new position in shares of loanDepot in the third quarter valued at approximately $2,180,000. Jane Street Group LLC bought a new stake in loanDepot in the 3rd quarter valued at $54,000. Quadrature Capital Ltd boosted its stake in loanDepot by 153.8% in the 3rd quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after purchasing an additional 51,231 shares during the period. Verition Fund Management LLC increased its holdings in loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after purchasing an additional 41,767 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of loanDepot in the 3rd quarter valued at about $897,000. Institutional investors own 39.39% of the company’s stock.

Insider Activity

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s 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 owns 3,938,792 shares of the company’s stock, valued at $9,965,143.76. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 444,618 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $2.11, for a total transaction of $938,143.98. Following the completion of the sale, the director now directly owns 2,479,960 shares in the company, valued at approximately $5,232,715.60. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,620,519 shares of company stock worth $3,534,286. 83.04% of the stock is currently owned by company insiders.

loanDepot Price Performance

loanDepot stock opened at $1.68 on Thursday. The company has a market capitalization of $547.73 million, a price-to-earnings ratio of -3.22 and a beta of 3.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. loanDepot, Inc. has a 12 month low of $1.52 and a 12 month high of $3.23. The stock’s 50 day moving average is $2.19 and its 200-day moving average is $2.25.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their target price on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research report on Thursday, November 14th.

loanDepot 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.