loanDepot (NYSE:LDI) Sees Unusually-High Trading Volume

loanDepot, Inc. (NYSE:LDI) saw unusually-high trading volume on Tuesday . Approximately 414,032 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 528,770 shares.The stock last traded at $3.04 and had previously closed at $2.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LDI shares. The Goldman Sachs Group boosted their price target on shares of loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research report on Thursday, August 8th. JMP Securities restated a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st. Finally, UBS Group raised their price target on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

loanDepot Stock Up 6.9 %

The stock’s fifty day moving average price is $2.35 and its 200 day moving average price is $2.24. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.69. The stock has a market cap of $1.00 billion, a P/E ratio of -5.35 and a beta of 3.43.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. The business had revenue of $265.39 million for the quarter, compared to the consensus estimate of $267.66 million. As a group, research analysts forecast that loanDepot, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Activity at loanDepot

In other news, Director Anthony Li Hsieh sold 267,972 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $2.74, for a total value of $734,243.28. Following the completion of the sale, the director now owns 3,242,985 shares of the company’s stock, valued at approximately $8,885,778.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jeff Alexander Walsh sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total transaction of $142,500.00. Following the transaction, the insider now directly owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 267,972 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $2.74, for a total value of $734,243.28. Following the completion of the sale, the director now owns 3,242,985 shares of the company’s stock, valued at approximately $8,885,778.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,198,059 shares of company stock valued at $5,945,740. Corporate insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CastleKnight Management LP bought a new stake in loanDepot in the 4th quarter worth $1,644,000. G2 Investment Partners Management LLC bought a new stake in shares of loanDepot in the fourth quarter worth about $792,000. DC Investments Management LLC purchased a new position in loanDepot during the 1st quarter valued at about $559,000. Dimensional Fund Advisors LP raised its position in loanDepot by 390.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after purchasing an additional 158,221 shares during the last quarter. Finally, 272 Capital LP lifted its holdings in loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after buying an additional 94,883 shares during the period. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.