Short Interest in loanDepot, Inc. (NYSE:LDI) Declines By 15.9%

loanDepot, Inc. (NYSE:LDI) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,430,000 shares, a decline of 15.9% from the November 15th total of 1,700,000 shares. Based on an average daily volume of 866,100 shares, the short-interest ratio is presently 1.7 days. Approximately 2.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th. UBS Group boosted their target price on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, September 5th.

Insider Buying and Selling at loanDepot

In other news, Director Anthony Li Hsieh sold 106,784 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $2.17, for a total transaction of $231,721.28. Following the completion of the transaction, the director now directly owns 3,560,584 shares of the company’s stock, valued at approximately $7,726,467.28. This represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 66,666 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the sale, the insider now owns 3,938,792 shares in the company, valued at $9,965,143.76. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,085,785 shares of company stock worth $2,424,974 over the last 90 days. Insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Park Avenue Securities LLC acquired a new stake in loanDepot in the third quarter worth about $27,000. Jane Street Group LLC bought a new stake in shares of loanDepot during the 3rd quarter worth about $54,000. Atria Investments Inc lifted its stake in shares of loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after acquiring an additional 6,372 shares during the period. American Century Companies Inc. boosted its holdings in shares of loanDepot by 27.3% in the second 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 in the last quarter. Finally, Verition Fund Management LLC increased 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 valued at $153,000 after acquiring an additional 41,767 shares during the period. 39.39% of the stock is owned by institutional investors and hedge funds.

loanDepot Stock Down 1.4 %

Shares of loanDepot stock opened at $2.07 on Friday. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. loanDepot has a 1-year low of $1.52 and a 1-year high of $3.71. The business’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $2.24. The company has a market capitalization of $676.89 million, a P/E ratio of -3.98 and a beta of 3.42.

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.