loanDepot (NYSE:LDI) Shares Down 3.8% – Here’s Why

loanDepot, Inc. (NYSE:LDI) traded down 3.8% during mid-day trading on Monday . The stock traded as low as $2.05 and last traded at $2.05. 10,791 shares were traded during mid-day trading, a decline of 98% from the average session volume of 560,766 shares. The stock had previously closed at $2.13.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LDI shares. UBS Group boosted their price objective on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price objective on loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research note on Thursday, August 8th.

loanDepot Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69. The stock has a fifty day moving average of $2.58 and a two-hundred day moving average of $2.24. The stock has a market cap of $669.83 million, a price-to-earnings ratio of -3.74 and a beta of 3.43.

loanDepot (NYSE:LDI) last released its quarterly 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 business had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $267.66 million. On average, equities research analysts anticipate that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Insider Activity at loanDepot

In related news, Director Anthony Li Hsieh sold 267,972 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $2.74, for a total transaction of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares in the company, valued at approximately $8,885,778.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other loanDepot news, Director Anthony Li Hsieh sold 267,972 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $2.74, for a total value of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares of the company’s stock, valued at $8,885,778.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total value of $97,917.26. Following the completion of the transaction, the insider now directly owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,496,031 shares of company stock valued at $6,576,802. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. ERn Financial LLC bought a new position in shares of loanDepot in the third quarter worth $248,000. Requisite Capital Management LLC acquired a new position in shares of loanDepot during the 3rd quarter valued at about $164,000. Park Avenue Securities LLC acquired a new position in shares of loanDepot during the 3rd quarter valued at about $27,000. 272 Capital LP boosted its stake in loanDepot by 107.4% during the 2nd 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 boosted its stake in loanDepot by 390.6% during the 2nd 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 during the period. 39.39% of the stock is currently owned by institutional investors.

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.