loanDepot (NYSE:LDI) Trading 3.4% Higher – Here’s What Happened

by · The Cerbat Gem

loanDepot, Inc. (NYSE:LDI – Get Free Report)’s stock price was up 3.4% during mid-day trading on Tuesday . The stock traded as high as $2.59 and last traded at $2.5750. Approximately 318,927 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,647,733 shares. The stock had previously closed at $2.49.

Analyst Upgrades and Downgrades

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

Get Our Latest Stock Analysis on LDI

loanDepot Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 6.94. The company’s fifty day moving average price is $3.23 and its 200 day moving average price is $2.16. The company has a market capitalization of $864.76 million, a P/E ratio of -7.21 and a beta of 3.45.

loanDepot (NYSE:LDI – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $325.16 million for the quarter, compared to the consensus estimate of $309.20 million. As a group, sell-side analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current year.

Insider Buying and Selling at loanDepot

In related news, Director Dawn G. Lepore sold 30,624 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $2.89, for a total transaction of $88,503.36. Following the transaction, the director directly owned 168,542 shares of the company’s stock, valued at $487,086.38. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Darren Graeler sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $4.30, for a total transaction of $430,000.00. Following the completion of the sale, the chief accounting officer owned 219,871 shares of the company’s stock, valued at $945,445.30. The trade was a 31.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 15,225,011 shares of company stock valued at $43,595,011. 83.04% of the stock is currently owned by company insiders.

Institutional Trading of loanDepot

Large investors have recently made changes to their positions in the company. Militia Capital Partners LP bought a new stake in loanDepot in the 3rd quarter valued at about $596,000. Millennium Management LLC grew its stake in loanDepot by 622.6% in the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after acquiring an additional 4,842,751 shares during the period. Bank of America Corp DE increased its holdings in shares of loanDepot by 267.5% during the third quarter. Bank of America Corp DE now owns 207,219 shares of the company’s stock valued at $636,000 after acquiring an additional 150,837 shares in the last quarter. Alight Capital Management LP acquired a new position in shares of loanDepot during the third quarter worth approximately $1,382,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in loanDepot in the 3rd quarter valued at $103,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Company Profile

(Get Free Report)

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.

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