loanDepot, Inc. (NYSE:LDI) Sees Significant Decrease in Short Interest

loanDepot, Inc. (NYSE:LDI) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,500,000 shares, a decrease of 5.3% from the September 30th total of 2,640,000 shares. Based on an average daily volume of 843,600 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.6% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on LDI shares. The Goldman Sachs Group upped their price target on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research note on Thursday, August 8th. UBS Group upped their target price on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th.

Insider Activity at loanDepot

In related news, Director Anthony Li Hsieh sold 639,186 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other loanDepot 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 transaction of $1,898,382.42. Following the completion of the sale, the director now directly owns 2,390,460 shares in the company, valued at $7,099,666.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total value of $97,917.26. Following the sale, the insider now owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,751,459 shares of company stock worth $7,115,755. 83.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LDI. DC Investments Management LLC purchased a new position in loanDepot in the first quarter valued at about $559,000. Dimensional Fund Advisors LP raised its stake in loanDepot by 390.6% during the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after buying an additional 158,221 shares in the last quarter. 272 Capital LP raised its stake in loanDepot by 107.4% during the second quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after buying an additional 94,883 shares in the last quarter. ERn Financial LLC acquired a new stake in loanDepot during the third quarter valued at approximately $248,000. Finally, Requisite Capital Management LLC acquired a new stake in loanDepot during the third quarter valued at approximately $164,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Price Performance

Shares of NYSE LDI opened at $2.08 on Friday. loanDepot has a 1-year low of $1.25 and a 1-year high of $3.71. The business has a 50-day moving average of $2.46 and a 200-day moving average of $2.21. 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 company has a market capitalization of $674.69 million, a price-to-earnings ratio of -3.35 and a beta of 3.43.

loanDepot (NYSE:LDI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. On average, equities analysts anticipate that loanDepot will post -0.31 EPS for the current fiscal year.

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.