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

loanDepot, Inc. (NYSE:LDI) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 2,360,000 shares, a growth of 9.3% from the June 30th total of 2,160,000 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 421,600 shares, the short-interest ratio is presently 5.6 days.

loanDepot Stock Up 4.1 %

LDI opened at $2.03 on Thursday. The company has a market cap of $656.89 million, a PE ratio of -3.56 and a beta of 3.39. 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 has a 1 year low of $1.14 and a 1 year high of $3.71. The firm has a 50 day moving average price of $1.85 and a 200 day moving average price of $2.27.

loanDepot (NYSE:LDI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). loanDepot had a negative net margin of 10.26% and a negative return on equity of 19.52%. The business had revenue of $222.79 million during the quarter, compared to analysts’ expectations of $232.65 million. Sell-side analysts expect that loanDepot will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LDI. The Goldman Sachs Group decreased their target price on shares of loanDepot from $2.25 to $1.50 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. JMP Securities reaffirmed a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 198,866 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $2.20, for a total transaction of $437,505.20. Following the completion of the transaction, the director now directly owns 3,590,891 shares of the company’s stock, valued at approximately $7,899,960.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Anthony Li Hsieh sold 198,866 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $2.20, for a total value of $437,505.20. Following the transaction, the director now owns 3,590,891 shares of the company’s stock, valued at $7,899,960.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Martell bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $2.09 per share, with a total value of $52,250.00. Following the purchase, the chief executive officer now owns 386,846 shares of the company’s stock, valued at $808,508.14. The disclosure for this purchase can be found here. Insiders have sold a total of 677,520 shares of company stock valued at $1,358,805 in the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in loanDepot during the 4th quarter valued at $81,000. Counterpoint Mutual Funds LLC bought a new position in shares of loanDepot during the fourth quarter worth about $106,000. Cullen Capital Management LLC acquired a new position in loanDepot in the fourth quarter worth about $150,000. Cetera Advisors LLC increased its holdings in loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after buying an additional 45,173 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after buying an additional 15,565 shares in the last quarter. 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.