loanDepot (NYSE:LDI) Shares Down 5.1% – Time to Sell?

loanDepot, Inc. (NYSE:LDI)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $2.04 and last traded at $2.06. Approximately 230,077 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 555,361 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

Several equities analysts recently weighed in on LDI shares. UBS Group increased their target price on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JMP Securities reiterated a “market perform” rating on shares of loanDepot in a report on Friday, June 21st. Finally, The Goldman Sachs Group boosted their target price on shares of loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a report on Thursday, August 8th.

loanDepot Price Performance

The company has a market capitalization of $692.57 million, a price-to-earnings ratio of -3.44 and a beta of 3.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69. The company has a 50 day simple moving average of $2.60 and a 200 day simple moving average of $2.26.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $265.39 million during the quarter, compared to analyst estimates of $267.66 million. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. As a group, research analysts predict that loanDepot, Inc. will post -0.31 EPS for the current year.

Insider Activity at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 268,689 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.88, for a total value of $773,824.32. Following the transaction, the director now directly owns 3,510,957 shares of the company’s stock, valued at $10,111,556.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total value of $142,500.00. Following the completion of the transaction, the insider now directly owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony Li Hsieh sold 268,689 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.88, for a total value of $773,824.32. Following the completion of the sale, the director now directly owns 3,510,957 shares of the company’s stock, valued at approximately $10,111,556.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,234,870 shares of company stock valued at $6,043,658. Insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased 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 purchasing an additional 15,565 shares during the last quarter. DC Investments Management LLC bought a new stake in loanDepot in the first quarter valued at $559,000. Cetera Advisors LLC boosted its holdings in shares of loanDepot by 66.3% during the first 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. Wolverine Asset Management LLC grew its position in shares of loanDepot by 6.0% during the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after acquiring an additional 57,546 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after acquiring an additional 19,655 shares during the period. 39.39% of the stock is currently owned by institutional investors.

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.