loanDepot (NYSE:LDI) Sees Unusually-High Trading Volume – Here’s Why

Shares of loanDepot, Inc. (NYSE:LDI) saw an uptick in trading volume on Wednesday . 1,147,130 shares traded hands during trading, an increase of 76% from the previous session’s volume of 651,067 shares.The stock last traded at $1.56 and had previously closed at $1.64.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their target price 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 company has a market cap of $521.57 million, a PE ratio of -3.07, a PEG ratio of 0.27 and a beta of 3.37. The company has a 50-day moving average of $1.87 and a 200-day moving average of $2.24.

Insider Activity at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 83,667 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $2.34, for a total transaction of $195,780.78. Following the sale, the director now owns 5,684,228 shares in the company, valued at $13,301,093.52. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 1,037,264 shares of company stock worth $2,293,524. Corporate insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several institutional investors and hedge funds have recently bought and sold shares of LDI. Atria Investments Inc increased its position in loanDepot by 41.0% during the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after buying an additional 6,372 shares in the last quarter. Park Avenue Securities LLC bought a new stake in loanDepot during the third quarter valued at approximately $27,000. LPL Financial LLC increased its holdings in loanDepot by 39.3% during the fourth quarter. LPL Financial LLC now owns 40,035 shares of the company’s stock valued at $82,000 after buying an additional 11,286 shares during the last quarter. Empowered Funds LLC grew its position in shares of loanDepot by 5.0% during the 4th quarter. Empowered Funds LLC now owns 245,189 shares of the company’s stock valued at $500,000 after acquiring an additional 11,647 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of loanDepot by 12.8% in the 4th quarter. American Century Companies Inc. now owns 120,232 shares of the company’s stock worth $245,000 after purchasing an additional 13,628 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.