loanDepot, Inc. (NYSE:LDI) Sees Large Increase in Short Interest

loanDepot, Inc. (NYSE:LDI) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, a growth of 54.4% from the February 28th total of 1,710,000 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily volume of 964,900 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On loanDepot

Large investors have recently bought and sold shares of the business. Walleye Capital LLC purchased a new position in shares of loanDepot in the 3rd quarter worth $897,000. Verition Fund Management LLC lifted its holdings in shares of loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after acquiring an additional 41,767 shares during the last quarter. Quadrature Capital Ltd grew its position in loanDepot by 153.8% in the third quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after acquiring an additional 51,231 shares in the last quarter. Jane Street Group LLC bought a new stake in loanDepot during the third quarter worth approximately $54,000. Finally, Barclays PLC purchased a new stake in loanDepot during the 3rd quarter valued at $2,180,000. Institutional investors own 39.39% of the company’s stock.

loanDepot Price Performance

NYSE:LDI traded down $0.01 during trading hours on Monday, reaching $1.19. The stock had a trading volume of 930,817 shares, compared to its average volume of 739,105. The stock has a market capitalization of $389.01 million, a PE ratio of -2.28, a PEG ratio of 0.25 and a beta of 3.36. loanDepot has a 52 week low of $1.15 and a 52 week high of $3.23. The company has a 50 day moving average price of $1.60 and a two-hundred day moving average price of $2.01. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16.

Analyst Ratings Changes

Separately, UBS Group decreased their price target on shares of loanDepot from $2.00 to $1.35 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

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.