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

loanDepot, Inc. (NYSE:LDI) shares rose 4.7% during trading on Tuesday . The stock traded as high as $2.23 and last traded at $2.22. Approximately 504,429 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 611,702 shares. The stock had previously closed at $2.12.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group boosted their price target on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their price objective on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a report on Thursday, November 14th.

loanDepot Stock Performance

The stock has a market cap of $604.95 million, a P/E ratio of -3.56 and a beta of 3.42. The company has a fifty day moving average of $2.25 and a 200 day moving average of $2.25. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16.

Insider Activity

In related news, Director Anthony Li Hsieh sold 18,806 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $2.06, for a total value of $38,740.36. Following the completion of the transaction, the director now owns 2,927,686 shares in the company, valued at $6,031,033.16. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total value of $97,917.26. Following the sale, the insider now owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,657,330 shares of company stock worth $3,632,204. 83.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On loanDepot

A number of institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new position in shares of loanDepot in the 3rd quarter valued at about $897,000. American Century Companies Inc. lifted its stake in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after acquiring an additional 19,655 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of loanDepot by 275.6% during the 3rd quarter. GSA Capital Partners LLP now owns 167,578 shares of the company’s stock worth $457,000 after purchasing an additional 122,957 shares during the last quarter. 272 Capital LP lifted its stake in shares of loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after purchasing an additional 94,883 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in loanDepot by 390.6% during the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after buying an additional 158,221 shares during the last quarter. 39.39% of the stock is currently 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.