loanDepot (NYSE:LDI) Shares Down 3.4% – Here’s Why

loanDepot, Inc. (NYSE:LDI)’s stock price dropped 3.4% during mid-day trading on Thursday . The stock traded as low as $1.97 and last traded at $1.97. Approximately 196,616 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 623,930 shares. The stock had previously closed at $2.04.

Wall Street Analysts Forecast Growth

LDI has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th. UBS Group upped their target price on 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 3.9 %

The stock has a market capitalization of $640.92 million, a price-to-earnings ratio of -3.77 and a beta of 3.42. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.25.

Insider Activity

In other loanDepot news, insider Jeff Alexander Walsh sold 66,666 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now directly owns 3,938,792 shares of the company’s stock, valued at $9,965,143.76. This represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 444,618 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $2.11, for a total value of $938,143.98. Following the completion of the sale, the director now owns 2,479,960 shares of the company’s stock, valued at approximately $5,232,715.60. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,620,519 shares of company stock valued at $3,534,286 in the last 90 days. 83.04% of the stock is owned by company insiders.

Institutional Trading of loanDepot

Hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC acquired a new stake in loanDepot during the 3rd quarter worth about $27,000. Jane Street Group LLC purchased a new stake in shares of loanDepot in the third quarter worth approximately $54,000. Atria Investments Inc lifted its stake in loanDepot by 41.0% during the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after acquiring an additional 6,372 shares in the last quarter. American Century Companies Inc. lifted its position in shares of loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after purchasing an additional 19,655 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after buying an additional 41,767 shares in the last quarter. 39.39% of the stock is currently owned by institutional investors.

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.