loanDepot (NYSE:LDI) Trading Up 4.7% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI)’s share price rose 4.7% during trading on Monday . The company traded as high as $2.07 and last traded at $2.02. Approximately 470,545 shares changed hands during trading, a decline of 24% from the average daily volume of 619,498 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

LDI has been the topic of a number of recent research reports. UBS Group upped their target price on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research report on Thursday, November 14th.

loanDepot Price Performance

The stock has a fifty day simple moving average of $2.22 and a 200-day simple moving average of $2.25. The company has a market capitalization of $668.72 million, a PE ratio of -3.93 and a beta of 3.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 444,618 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $2.11, for a total value of $938,143.98. Following the completion of the sale, the director now directly owns 2,479,960 shares of the company’s stock, valued at $5,232,715.60. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff Alexander Walsh sold 66,666 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now directly owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,657,330 shares of company stock worth $3,632,204 over the last 90 days. 83.04% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of loanDepot by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock valued at $1,968,000 after acquiring an additional 125,059 shares during the period. Barclays PLC purchased a new position in loanDepot during the 3rd quarter worth $2,180,000. Jane Street Group LLC acquired a new position in loanDepot in the third quarter valued at $54,000. Quadrature Capital Ltd raised its holdings in shares of loanDepot by 153.8% in the third quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock valued at $230,000 after buying an additional 51,231 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of loanDepot by 293.5% in the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares during the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

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.