Insider Selling: loanDepot (NYSE:LDI) CEO Sells 1,121,499 Shares of Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh sold 1,121,499 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $2.50, for a total value of $2,803,747.50. Following the transaction, the chief executive officer directly owned 178,501 shares of the company’s stock, valued at approximately $446,252.50. The trade was a 86.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Anthony Li Hsieh also recently made the following trade(s):

• On Monday, November 17th, Anthony Li Hsieh sold 178,501 shares of loanDepot stock. The stock was sold at an average price of $2.50, for a total value of $446,252.50.
• On Wednesday, November 12th, Anthony Li Hsieh sold 700,000 shares of loanDepot stock. The shares were sold at an average price of $2.87, for a total transaction of $2,009,000.00.
• On Tuesday, October 14th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $2.87, for a total value of $3,731,000.00.
• On Monday, September 15th, Anthony Li Hsieh sold 1,350,000 shares of loanDepot stock. The stock was sold at an average price of $4.61, for a total transaction of $6,223,500.00.
• On Friday, September 12th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $4.10, for a total value of $5,330,000.00.
• On Tuesday, September 9th, Anthony Li Hsieh sold 2,043,712 shares of loanDepot stock. The shares were sold at an average price of $3.25, for a total transaction of $6,642,064.00.
• On Friday, September 5th, Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock. The shares were sold at an average price of $2.64, for a total value of $8,041,453.20.
• On Thursday, September 4th, Anthony Li Hsieh sold 1,110,454 shares of loanDepot stock. The stock was sold at an average price of $2.17, for a total value of $2,409,685.18.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The shares were sold at an average price of $2.10, for a total value of $443,265.90.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The shares were sold at an average price of $2.10, for a total transaction of $443,265.90.

loanDepot Price Performance

Shares of NYSE LDI traded up $0.16 during mid-day trading on Tuesday, hitting $2.65. 2,394,312 shares of the stock traded hands, compared to its average volume of 3,658,227. The firm has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $2.16. The company has a market cap of $881.42 million, a PE ratio of -7.35 and a beta of 3.45. loanDepot, Inc. has a twelve month low of $1.01 and a twelve month high of $5.05. The company has a debt-to-equity ratio of 6.94, a current ratio of 1.19 and a quick ratio of 1.19.

loanDepot (NYSE:LDI) last announced its earnings results on Thursday, November 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%.The company had revenue of $325.16 million for the quarter, compared to analyst estimates of $309.20 million. As a group, equities research analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its position in loanDepot by 8,934.0% during the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after purchasing an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in loanDepot during the 3rd quarter worth $31,000. CWM LLC bought a new position in loanDepot during the 3rd quarter worth approximately $32,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of loanDepot during the 3rd quarter worth approximately $31,000. Finally, Russell Investments Group Ltd. bought a new position in shares of loanDepot during the third quarter worth about $35,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LDI. The Goldman Sachs Group upped their target price on loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research note on Wednesday, October 8th. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. UBS Group raised their price target on loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, loanDepot has an average rating of “Reduce” and a consensus price target of $3.00.

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.