loanDepot (NYSE:LDI) Trading Up 6.6% – What’s Next?

Shares of loanDepot, Inc. (NYSE:LDI) were up 6.6% during trading on Monday . The company traded as high as $1.86 and last traded at $1.86. Approximately 390,587 shares traded hands during trading, a decline of 45% from the average daily volume of 707,813 shares. The stock had previously closed at $1.74.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their price objective on loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a report on Thursday, November 14th.

loanDepot Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76. The stock’s 50-day moving average price is $2.01 and its 200 day moving average price is $2.26. The company has a market cap of $586.97 million, a P/E ratio of -3.45, a price-to-earnings-growth ratio of 0.27 and a beta of 3.41.

Insiders Place Their Bets

In other news, Director Anthony Li Hsieh sold 146,072 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $2.52, for a total transaction of $368,101.44. Following the completion of the sale, the director now owns 7,333,888 shares of the company’s stock, valued at approximately $18,481,397.76. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeff Alexander Walsh sold 66,666 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,359,358 shares of company stock valued at $3,001,142 in the last quarter. Insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds have recently added to or reduced their stakes in LDI. Geode Capital Management LLC boosted its position in shares of loanDepot by 21.0% during the third quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock worth $1,968,000 after purchasing an additional 125,059 shares in the last quarter. Barclays PLC bought a new position in shares of loanDepot during the 3rd quarter valued at about $2,180,000. Jane Street Group LLC acquired a new position in shares of loanDepot in the 3rd quarter valued at approximately $54,000. Quadrature Capital Ltd increased its stake in loanDepot by 153.8% during the 3rd quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after purchasing an additional 51,231 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in 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 during the period. Institutional investors and hedge funds 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.