loanDepot (NYSE:LDI) Shares Down 3.4% – Should You Sell?

Shares of loanDepot, Inc. (NYSE:LDI) traded down 3.4% on Thursday . The stock traded as low as $1.97 and last traded at $1.97. 196,616 shares traded hands during trading, a decline of 68% from the average session volume of 623,930 shares. The stock had previously closed at $2.04.

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 stock a “sell” rating in a report on Thursday, November 14th.

loanDepot Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76. The company has a market capitalization of $614.76 million, a P/E ratio of -3.62 and a beta of 3.42. The company’s fifty day moving average price is $2.21 and its 200 day moving average price is $2.25.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 146,072 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $2.52, for a total transaction of $368,101.44. Following the completion of the transaction, the director now directly owns 7,333,888 shares in the company, valued at approximately $18,481,397.76. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,620,519 shares of company stock worth $3,534,286 in the last 90 days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently modified their holdings of the business. Park Avenue Securities LLC acquired a new stake in shares of loanDepot in the 3rd quarter valued at approximately $27,000. Jane Street Group LLC bought a new position in loanDepot in the 3rd quarter valued at approximately $54,000. Atria Investments Inc boosted its position in loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after buying an additional 6,372 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of loanDepot by 293.5% during the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after buying an additional 41,767 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new position in shares of loanDepot during the third quarter worth $164,000. Institutional investors and hedge funds 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.