loanDepot, Inc. (NYSE:LDI) Short Interest Update

loanDepot, Inc. (NYSE:LDI) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,610,000 shares, an increase of 8.8% from the August 15th total of 2,400,000 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 619,300 shares, the short-interest ratio is currently 4.2 days.

loanDepot Stock Performance

LDI stock traded down $0.19 during trading on Wednesday, reaching $3.00. The stock had a trading volume of 1,658,006 shares, compared to its average volume of 541,819. The stock’s 50 day moving average is $2.38 and its two-hundred day moving average is $2.24. The firm has a market cap of $970.77 million, a PE ratio of -5.33 and a beta of 3.43. loanDepot has a 52 week low of $1.14 and a 52 week high of $3.71. 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 issued its quarterly earnings data 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. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. The firm had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $267.66 million. As a group, equities analysts anticipate that loanDepot will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other loanDepot news, Director Anthony Li Hsieh sold 268,689 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $2.88, for a total transaction of $773,824.32. Following the completion of the transaction, the director now owns 3,510,957 shares of the company’s stock, valued at $10,111,556.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other loanDepot news, Director Anthony Li Hsieh sold 268,689 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.88, for a total value of $773,824.32. Following the sale, the director now directly owns 3,510,957 shares of the company’s stock, valued at $10,111,556.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff Alexander Walsh sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total value of $142,500.00. Following the transaction, the insider now owns 4,122,128 shares of the company’s stock, valued at $11,748,064.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,198,059 shares of company stock worth $5,945,740. Corporate insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jump Financial LLC bought a new position in loanDepot in the 4th quarter worth $81,000. Cullen Capital Management LLC purchased a new position in shares of loanDepot during the 4th quarter valued at about $150,000. American Century Companies Inc. grew its stake in shares of loanDepot by 27.3% during the 2nd 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 period. Cetera Advisors LLC increased its holdings in loanDepot by 66.3% in the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after acquiring an additional 45,173 shares in the last quarter. Finally, 272 Capital LP raised its stake in loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after acquiring an additional 94,883 shares during the period. Hedge funds and other institutional investors 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.