loanDepot (NYSE:LDI) Sees Unusually-High Trading Volume

Shares of loanDepot, Inc. (NYSE:LDI) saw unusually-strong trading volume on Tuesday . Approximately 912,602 shares changed hands during trading, an increase of 82% from the previous session’s volume of 500,076 shares.The stock last traded at $2.95 and had previously closed at $3.06.

Analyst Ratings Changes

Several research analysts have weighed in on LDI shares. The Goldman Sachs Group increased their price objective on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research report on Thursday, August 8th. JMP Securities reissued a “market perform” rating on shares of loanDepot in a report on Friday, June 21st.

loanDepot Trading Down 8.2 %

The company has a market capitalization of $846.19 million, a price-to-earnings ratio of -4.61 and a beta of 3.40. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average price of $2.12 and a 200-day moving average price of $2.24.

loanDepot (NYSE:LDI) last released its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The company had revenue of $265.39 million for the quarter, compared to analyst estimates of $267.66 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. As a group, equities analysts anticipate that loanDepot, Inc. will post -0.22 EPS for the current year.

Insider Activity at loanDepot

In related news, Director Anthony Li Hsieh sold 639,186 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 2,390,460 shares of the company’s stock, valued at $7,099,666.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Frank Martell purchased 25,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $2.09 per share, with a total value of $52,250.00. Following the completion of the purchase, the chief executive officer now owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anthony Li Hsieh sold 639,186 shares of loanDepot stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $2.97, for a total value of $1,898,382.42. Following the sale, the director now directly owns 2,390,460 shares in the company, valued at $7,099,666.20. The disclosure for this sale can be found here. Insiders have sold 1,642,581 shares of company stock valued at $4,496,209 over the last ninety days. 83.04% of the stock is owned by corporate insiders.

Institutional Trading of loanDepot

A number of hedge funds have recently made changes to their positions in LDI. Jump Financial LLC acquired a new stake in shares of loanDepot during the fourth quarter valued at about $81,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of loanDepot during the fourth quarter valued at about $106,000. Cullen Capital Management LLC acquired a new stake in shares of loanDepot during the fourth quarter valued at about $150,000. American Century Companies Inc. boosted its stake in shares of loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after purchasing an additional 19,655 shares in the last quarter. Finally, Cetera Advisors LLC raised its position in shares of loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after acquiring an additional 45,173 shares during the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

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.