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

loanDepot, Inc. (NYSE:LDI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $2.13, but opened at $2.05. loanDepot shares last traded at $2.15, with a volume of 178,997 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on LDI. The Goldman Sachs Group upped their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th. UBS Group raised their price target on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, September 5th.

loanDepot Stock Down 6.1 %

The stock has a market capitalization of $604.95 million, a P/E ratio of -3.56 and a beta of 3.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. The stock’s 50-day moving average price is $2.25 and its two-hundred day moving average price is $2.25.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 18,806 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $2.06, for a total value of $38,740.36. Following the transaction, the director now owns 2,927,686 shares in the company, valued at $6,031,033.16. The trade was a 0.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff Alexander Walsh sold 36,811 shares of loanDepot 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 completion of the sale, the insider now owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,657,330 shares of company stock worth $3,632,204. Insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Several large investors have recently added to or reduced their stakes in the business. Atria Investments Inc increased its position in loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after purchasing an additional 6,372 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in loanDepot during the third quarter valued at approximately $27,000. Empowered Funds LLC boosted its position in shares of loanDepot by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock worth $638,000 after purchasing an additional 11,792 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of loanDepot during the third quarter worth about $54,000. Finally, American Century Companies Inc. increased its stake in loanDepot by 27.3% during the 2nd 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. 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.