loanDepot (NYSE:LDI) Stock Price Down 4.6% on Insider Selling

loanDepot, Inc. (NYSE:LDI)’s share price dropped 4.6% on Wednesday after an insider sold shares in the company. The stock traded as low as $2.29 and last traded at $2.30. Approximately 609,833 shares changed hands during trading, an increase of 18% from the average daily volume of 514,642 shares. The stock had previously closed at $2.41.

Specifically, Director Anthony Li Hsieh sold 27,713 shares of loanDepot stock in a transaction on Monday, September 9th. The shares were sold at an average price of $2.52, for a total value of $69,836.76. Following the completion of the sale, the director now owns 3,220,357 shares in the company, valued at approximately $8,115,299.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony Li Hsieh sold 239,729 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $2.44, for a total transaction of $584,938.76. Following the completion of the transaction, the director now directly owns 3,248,070 shares in the company, valued at $7,925,290.80. The disclosure for this sale can be found here. In related news, Director Anthony Li Hsieh sold 61,747 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $2.65, for a total transaction of $163,629.55. Following the completion of the sale, the director now owns 3,595,473 shares in the company, valued at $9,528,003.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

LDI has been the subject of several research analyst reports. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research note on Thursday, August 8th. JMP Securities restated a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st. Finally, UBS Group upped their price objective on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th.

loanDepot Stock Down 5.0 %

The stock’s 50 day moving average price is $2.28 and its 200-day moving average price is $2.24. The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $741.02 million, a PE ratio of -4.18 and a beta of 3.43.

loanDepot (NYSE:LDI) last released its quarterly earnings data 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 firm had revenue of $265.39 million during the quarter, compared to analyst estimates of $267.66 million. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. On average, analysts predict that loanDepot, Inc. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in shares of loanDepot during the fourth quarter valued at about $81,000. Cullen Capital Management LLC purchased a new position in loanDepot in the fourth quarter worth about $150,000. American Century Companies Inc. raised its holdings in 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 last quarter. Cetera Advisors LLC lifted 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 purchasing an additional 45,173 shares in the last quarter. Finally, 272 Capital LP lifted its stake in loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after acquiring an additional 94,883 shares during the period. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.