loanDepot, Inc. (NYSE:LDI) Sees Significant Decrease in Short Interest

loanDepot, Inc. (NYSE:LDI) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,700,000 shares, a decrease of 24.8% from the October 31st total of 2,260,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 867,600 shares, the short-interest ratio is currently 2.0 days.

loanDepot Price Performance

Shares of LDI stock traded down $0.03 during trading hours on Friday, hitting $2.27. 170,612 shares of the company were exchanged, compared to its average volume of 600,712. The firm has a fifty day simple moving average of $2.38 and a 200 day simple moving average of $2.23. loanDepot has a 52-week low of $1.52 and a 52-week high of $3.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LDI shares. UBS Group upped their price objective on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, September 5th. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research report on Thursday, November 14th.

Insider Transactions at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the company’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 approximately $9,965,143.76. This represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 239,729 shares of loanDepot stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $2.44, for a total value of $584,938.76. Following the completion of the sale, the director now owns 3,248,070 shares of the company’s stock, valued at approximately $7,925,290.80. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,669,223 shares of company stock valued at $3,860,834. Company insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments Inc lifted its position in shares of loanDepot by 41.0% during the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after acquiring an additional 6,372 shares in the last quarter. Park Avenue Securities LLC purchased a new position in loanDepot during the 3rd quarter valued at about $27,000. Empowered Funds LLC boosted its position in shares of loanDepot by 5.3% in the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock valued at $638,000 after acquiring an additional 11,792 shares during the period. Jane Street Group LLC bought a new stake in loanDepot during the 3rd quarter worth approximately $54,000. Finally, American Century Companies Inc. lifted its stake in loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after purchasing an additional 19,655 shares in the last quarter. Institutional investors 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.