loanDepot (NYSE:LDI) Shares Gap Up to $1.61

loanDepot, Inc. (NYSE:LDI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $1.61, but opened at $1.69. loanDepot shares last traded at $1.62, with a volume of 29,811 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LDI. JMP Securities restated a “market perform” rating on shares of loanDepot in a report on Friday, June 21st. The Goldman Sachs Group reduced their price objective on loanDepot from $3.00 to $2.50 and set a “sell” rating for the company in a report on Wednesday, March 13th.

loanDepot Stock Performance

The business’s 50 day simple moving average is $2.05 and its two-hundred day simple moving average is $2.49. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. The business had revenue of $222.79 million during the quarter, compared to the consensus estimate of $232.65 million. As a group, sell-side analysts predict that loanDepot, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 38,504 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total transaction of $78,163.12. Following the sale, the director now owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Anthony Li Hsieh sold 38,504 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total transaction of $78,163.12. Following the transaction, the director now owns 3,255,623 shares in the company, valued at $6,608,914.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank Martell acquired 25,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $2.09 per share, for a total transaction of $52,250.00. Following the acquisition, the chief executive officer now directly owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 677,520 shares of company stock valued at $1,358,805. 83.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after acquiring an additional 15,565 shares during the period. Jump Financial LLC bought a new position in shares of loanDepot during the 4th quarter valued at approximately $81,000. Counterpoint Mutual Funds LLC bought a new position in shares of loanDepot during the 4th quarter valued at approximately $106,000. Cullen Capital Management LLC bought a new position in shares of loanDepot during the 4th quarter valued at approximately $150,000. Finally, Cetera Advisors LLC grew its position in shares of loanDepot by 66.3% during the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after acquiring an additional 45,173 shares during the period. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.