loanDepot, Inc. (NYSE:LDI) Short Interest Up 54.4% in March

loanDepot, Inc. (NYSE:LDI) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, an increase of 54.4% from the February 28th total of 1,710,000 shares. Based on an average trading volume of 964,900 shares, the short-interest ratio is currently 2.7 days. Currently, 3.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on loanDepot from $2.00 to $1.35 and set a “neutral” rating on the stock in a report on Friday, March 14th.

loanDepot Stock Performance

Shares of loanDepot stock opened at $1.19 on Tuesday. loanDepot has a 12 month low of $1.14 and a 12 month high of $3.23. The business has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $2.01. The firm has a market capitalization of $389.01 million, a P/E ratio of -2.28, a P/E/G ratio of 0.25 and a beta of 3.36. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Institutional Trading of loanDepot

Large investors have recently modified their holdings of the company. Cannell & Spears LLC increased its holdings in loanDepot by 301.3% in the 4th quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company’s stock worth $2,640,000 after acquiring an additional 971,700 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of loanDepot during the 4th quarter valued at about $1,691,000. Barclays PLC purchased a new position in shares of loanDepot in the 3rd quarter worth approximately $2,180,000. Millennium Management LLC increased its position in loanDepot by 167.1% during the fourth quarter. Millennium Management LLC now owns 650,987 shares of the company’s stock valued at $1,328,000 after acquiring an additional 407,299 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in loanDepot in the 3rd quarter worth about $897,000. 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.