loanDepot (NYSE:LDI) Sees Strong Trading Volume – Here’s Why

Shares of loanDepot, Inc. (NYSE:LDI) saw strong trading volume on Friday . 4,215,442 shares were traded during trading, an increase of 255% from the previous session’s volume of 1,185,888 shares.The stock last traded at $2.00 and had previously closed at $1.88.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group upped their price objective on loanDepot from $1.40 to $1.90 and gave the stock a “neutral” rating in a report on Wednesday. BTIG Research initiated coverage on loanDepot in a research report on Monday, August 18th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen lowered loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2.30.

loanDepot Price Performance

The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $666.82 million, a P/E ratio of -6.11 and a beta of 3.35. The company has a 50-day moving average price of $1.63 and a 200-day moving average price of $1.44.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Li Hsieh sold 672,865 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $2.02, for a total value of $1,359,187.30. Following the transaction, the chief executive officer directly owned 9,461,694 shares in the company, valued at $19,112,621.88. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff Alexander Walsh sold 70,000 shares of loanDepot stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $2.01, for a total value of $140,700.00. Following the transaction, the insider owned 4,140,751 shares in the company, valued at approximately $8,322,909.51. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,276,016 shares of company stock worth $2,569,679 over the last 90 days. 78.05% of the stock is owned by corporate insiders.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wilshire Advisors LLC grew its holdings in loanDepot by 39.8% during the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock worth $33,000 after purchasing an additional 7,899 shares during the period. Cetera Investment Advisers boosted its holdings in shares of loanDepot by 11.8% during the fourth quarter. Cetera Investment Advisers now owns 103,148 shares of the company’s stock worth $210,000 after acquiring an additional 10,846 shares during the period. LPL Financial LLC boosted its holdings in shares of loanDepot by 39.3% during the fourth quarter. LPL Financial LLC now owns 40,035 shares of the company’s stock worth $82,000 after acquiring an additional 11,286 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of loanDepot in the fourth quarter valued at approximately $30,000. Finally, Capstone Financial Advisors Inc. raised its position in shares of loanDepot by 60.0% in the first quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company’s stock valued at $48,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.