loanDepot (NYSE:LDI) Sees Strong Trading Volume – Still a Buy?

loanDepot, Inc. (NYSE:LDI) shares saw unusually-high trading volume on Wednesday . Approximately 1,147,130 shares traded hands during trading, an increase of 76% from the previous session’s volume of 651,067 shares.The stock last traded at $1.56 and had previously closed at $1.64.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their target price on loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research note on Thursday, November 14th.

loanDepot Price Performance

The business’s fifty day simple moving average is $1.84 and its two-hundred day simple moving average is $2.23. 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 at loanDepot

In related news, Director Anthony Li Hsieh sold 83,667 shares of loanDepot stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $2.34, for a total value of $195,780.78. Following the sale, the director now owns 5,684,228 shares of the company’s stock, valued at approximately $13,301,093.52. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 891,192 shares of company stock worth $1,925,422 in the last 90 days. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments Inc increased its stake in shares of loanDepot by 41.0% during 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 in the last quarter. LPL Financial LLC increased its stake in loanDepot by 39.3% during the 4th quarter. LPL Financial LLC now owns 40,035 shares of the company’s stock worth $82,000 after buying an additional 11,286 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of loanDepot by 5.0% during the fourth quarter. Empowered Funds LLC now owns 245,189 shares of the company’s stock valued at $500,000 after acquiring an additional 11,647 shares during the last quarter. American Century Companies Inc. lifted its position in shares of loanDepot by 12.8% in the fourth quarter. American Century Companies Inc. now owns 120,232 shares of the company’s stock valued at $245,000 after acquiring an additional 13,628 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in shares of loanDepot by 5.9% in the fourth quarter. Walleye Capital LLC now owns 347,997 shares of the company’s stock worth $710,000 after acquiring an additional 19,476 shares during the last quarter. 39.39% of the stock is owned by hedge funds and other 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.