loanDepot (NYSE:LDI) Sees Large Volume Increase – Time to Buy?

Shares of loanDepot, Inc. (NYSE:LDI) saw unusually-strong trading volume on Wednesday . Approximately 1,356,103 shares changed hands during mid-day trading, an increase of 138% from the previous session’s volume of 569,171 shares.The stock last traded at $2.05 and had previously closed at $2.11.

Analyst Ratings Changes

A number of equities analysts have recently commented on LDI shares. UBS Group raised their price target on 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 increased their price objective on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a research report on Thursday, August 8th.

loanDepot Stock Down 1.4 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69. The company has a market cap of $676.31 million, a PE ratio of -3.35 and a beta of 3.43. The stock has a 50-day moving average of $2.55 and a 200-day moving average of $2.23.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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 company had revenue of $265.39 million for the quarter, compared to the consensus estimate of $267.66 million. Sell-side analysts predict that loanDepot, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at loanDepot

In other news, insider Jeff Alexander Walsh sold 50,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,748,064.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Anthony Li Hsieh sold 267,972 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $2.74, for a total transaction of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares of the company’s stock, valued at approximately $8,885,778.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff Alexander Walsh sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total value of $142,500.00. Following the transaction, the insider now directly owns 4,122,128 shares in the company, valued at $11,748,064.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,496,031 shares of company stock worth $6,576,802 over the last 90 days. Corporate insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Large investors have recently modified their holdings of the business. Park Avenue Securities LLC bought a new stake in shares of loanDepot in the third quarter worth about $27,000. Requisite Capital Management LLC bought a new stake in shares of loanDepot in the third quarter worth about $164,000. ERn Financial LLC bought a new stake in shares of loanDepot in the third quarter worth about $248,000. American Century Companies Inc. grew its stake in shares of loanDepot by 27.3% in the second 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 during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after purchasing an additional 45,173 shares during the last quarter. 39.39% of the stock is owned by 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.