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

loanDepot, Inc. (NYSE:LDI) shares gapped down before the market opened on Friday . The stock had previously closed at $1.61, but opened at $1.56. loanDepot shares last traded at $1.59, with a volume of 18,013 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LDI shares. The Goldman Sachs Group decreased their target price on loanDepot from $2.25 to $1.50 and set a “sell” rating on the stock in a research note on Tuesday. JMP Securities reissued a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Trading Down 2.2 %

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 business has a 50-day simple moving average of $1.96 and a 200-day simple moving average of $2.45.

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

Insider Activity

In other news, Director Anthony Li Hsieh sold 38,504 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.03, for a total value of $78,163.12. Following the transaction, the director now owns 3,255,623 shares in the company, valued at approximately $6,608,914.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Frank Martell purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 38,504 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $2.03, for a total value of $78,163.12. Following the transaction, the director now owns 3,255,623 shares in the company, valued at approximately $6,608,914.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 677,520 shares of company stock worth $1,358,805. 83.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in shares of loanDepot in the 4th quarter valued at approximately $81,000. Counterpoint Mutual Funds LLC purchased a new position in shares of loanDepot in the 4th quarter valued at approximately $106,000. Cullen Capital Management LLC purchased a new position in shares of loanDepot in the 4th quarter valued at approximately $150,000. Cetera Advisors LLC grew its stake in shares of loanDepot by 66.3% in the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after purchasing an additional 45,173 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of loanDepot by 8.2% in the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after purchasing an additional 15,565 shares during the last quarter. 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.