loanDepot (NYSE:LDI) Trading Down 2.5%

loanDepot, Inc. (NYSE:LDI)’s stock price fell 2.5% during trading on Wednesday . The company traded as low as $3.09 and last traded at $3.11. 99,426 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 532,894 shares. The stock had previously closed at $3.19.

Analyst Ratings Changes

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

loanDepot Stock Down 4.7 %

The company has a debt-to-equity ratio of 4.69, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $983.71 million, a price-to-earnings ratio of -5.33 and a beta of 3.43. The firm’s fifty day moving average is $2.38 and its 200-day moving average is $2.24.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating 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 company had revenue of $265.39 million for the quarter, compared to analyst estimates of $267.66 million. On average, sell-side analysts predict that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Insider Activity

In other news, Director Anthony Li Hsieh sold 10,141 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $2.57, for a total value of $26,062.37. Following the sale, the director now owns 1,865,727 shares in the company, valued at $4,794,918.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other loanDepot news, Director Anthony Li Hsieh sold 10,141 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $2.57, for a total value of $26,062.37. Following the completion of the transaction, the director now owns 1,865,727 shares of the company’s stock, valued at approximately $4,794,918.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot stock in a transaction that occurred 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 in the company, valued at approximately $11,748,064.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,198,059 shares of company stock worth $5,945,740 in the last ninety days. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

A number of hedge funds have recently modified their holdings of LDI. CastleKnight Management LP acquired a new stake in shares of loanDepot during the 4th quarter worth about $1,644,000. Jump Financial LLC acquired a new stake in loanDepot during the 4th quarter valued at $81,000. Cullen Capital Management LLC bought a new position in loanDepot in the 4th quarter valued at $150,000. Cetera Advisors LLC grew its holdings in shares of 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 last quarter. Finally, Empowered Funds LLC raised its holdings in shares of loanDepot by 8.2% in the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after buying an additional 15,565 shares during the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

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.