loanDepot (NYSE:LDI) Stock Price Up 4% – What’s Next?

loanDepot, Inc. (NYSE:LDI) shares traded up 4% during mid-day trading on Tuesday . The company traded as high as $2.12 and last traded at $2.10. 135,085 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 560,312 shares. The stock had previously closed at $2.02.

Wall Street Analyst Weigh In

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

loanDepot Stock Performance

The stock has a market capitalization of $676.30 million, a P/E ratio of -3.59 and a beta of 3.43. The company has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $2.25. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.69.

loanDepot (NYSE:LDI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. The firm had revenue of $265.39 million for the quarter, compared to the consensus estimate of $267.66 million. On average, equities analysts forecast that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Insider Transactions at loanDepot

In other news, Director Anthony Li Hsieh sold 480,088 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $2.32, for a total value of $1,113,804.16. Following the transaction, the director now owns 2,463,356 shares in the company, valued at $5,714,985.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Anthony Li Hsieh sold 480,088 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $2.32, for a total value of $1,113,804.16. Following the transaction, the director now owns 2,463,356 shares of the company’s stock, valued at approximately $5,714,985.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total transaction of $142,500.00. Following the completion of the transaction, the insider now directly owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,234,870 shares of company stock worth $6,043,658 in the last 90 days. Insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LDI. Park Avenue Securities LLC bought a new position in shares of loanDepot in the third quarter worth $27,000. American Century Companies Inc. increased its stake in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after acquiring an additional 19,655 shares during the last quarter. Requisite Capital Management LLC bought a new position in loanDepot in the third quarter valued at $164,000. Cetera Advisors LLC increased its stake in loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after acquiring an additional 45,173 shares during the last quarter. Finally, 272 Capital LP increased its stake in loanDepot by 107.4% in the second quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after acquiring an additional 94,883 shares during the last quarter. 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.