ERn Financial LLC Acquires New Holdings in loanDepot, Inc. (NYSE:LDI)

ERn Financial LLC bought a new position in shares of loanDepot, Inc. (NYSE:LDI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,982 shares of the company’s stock, valued at approximately $248,000.

A number of other institutional investors have also made changes to their positions in LDI. Cetera Advisors LLC raised its holdings 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 buying an additional 45,173 shares during the period. American Century Companies Inc. increased its stake in loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after purchasing an additional 19,655 shares during the period. Empowered Funds LLC lifted its position in shares of loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after purchasing an additional 15,565 shares in the last quarter. 272 Capital LP boosted its stake in shares of 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 purchasing an additional 94,883 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after purchasing an additional 158,221 shares in the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LDI shares. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research report on Thursday, August 8th. JMP Securities reiterated a “market perform” rating on shares of loanDepot in a report on Friday, June 21st. Finally, UBS Group upped their price target 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 8.3 %

loanDepot stock opened at $2.21 on Thursday. The stock has a market cap of $715.13 million, a PE ratio of -3.88 and a beta of 3.43. 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’s fifty day moving average is $2.59 and its two-hundred day moving average is $2.25. loanDepot, Inc. has a 1-year low of $1.14 and a 1-year high of $3.71.

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

Insiders Place Their Bets

In other news, Director Anthony Li Hsieh sold 639,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $2.97, for a total value of $1,898,382.42. Following the completion of the transaction, the director now owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Anthony Li Hsieh sold 639,186 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $2.97, for a total value of $1,898,382.42. Following the completion of the sale, the director now directly owns 2,390,460 shares of the company’s stock, valued at $7,099,666.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total value of $97,917.26. Following the transaction, the insider now owns 4,035,317 shares in the company, valued at $10,733,943.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,496,031 shares of company stock valued at $6,576,802. 83.04% of the stock is owned by corporate insiders.

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.