Acadian Asset Management LLC bought a new stake in shares of loanDepot, Inc. (NYSE:LDI – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 48,529 shares of the company’s stock, valued at approximately $102,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of LDI. Cannell Capital LLC lifted its stake in loanDepot by 281.4% in the first quarter. Cannell Capital LLC now owns 3,913,633 shares of the company’s stock worth $6,301,000 after purchasing an additional 2,887,391 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in shares of loanDepot by 1.2% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,443,469 shares of the company’s stock worth $5,544,000 after acquiring an additional 41,790 shares during the last quarter. Vanguard Group Inc. boosted its holdings in loanDepot by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,187,085 shares of the company’s stock valued at $4,207,000 after acquiring an additional 361,781 shares during the period. Renaissance Technologies LLC grew its position in loanDepot by 39.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,100,305 shares of the company’s stock valued at $1,584,000 after acquiring an additional 310,820 shares during the last quarter. Finally, State Street Corp increased its stake in loanDepot by 10.0% in the first quarter. State Street Corp now owns 664,348 shares of the company’s stock worth $2,757,000 after purchasing an additional 60,638 shares during the period. Hedge funds and other institutional investors own 53.01% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on LDI shares. The Goldman Sachs Group cut their price target on shares of loanDepot from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Tuesday, October 3rd. UBS Group upped their target price on shares of loanDepot from $1.75 to $2.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 30th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.00.
loanDepot Stock Performance
Shares of loanDepot stock opened at $1.71 on Tuesday. loanDepot, Inc. has a 12 month low of $1.14 and a 12 month high of $3.02. The stock’s fifty day moving average price is $1.55 and its 200-day moving average price is $1.86. The firm has a market cap of $549.03 million, a P/E ratio of -1.84 and a beta of 2.53. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.70.
Insiders Place Their Bets
In other loanDepot news, CEO Frank Martell purchased 20,000 shares of loanDepot stock in a transaction dated Thursday, November 16th. The stock was acquired at an average price of $1.66 per share, for a total transaction of $33,200.00. Following the acquisition, the chief executive officer now owns 433,609 shares in the company, valued at approximately $719,790.94. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Frank Martell purchased 20,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $1.66 per share, for a total transaction of $33,200.00. Following the acquisition, the chief executive officer now owns 433,609 shares of the company’s stock, valued at approximately $719,790.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff Alexander Walsh sold 17,864 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $1.98, for a total value of $35,370.72. Following the sale, the insider now owns 4,226,949 shares of the company’s stock, valued at $8,369,359.02. The disclosure for this sale can be found here. In the last three months, insiders have acquired 85,207 shares of company stock worth $158,614 and have sold 32,148 shares worth $58,082. 83.88% of the stock is owned by company insiders.
loanDepot Company Profile
loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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.
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