loanDepot (NYSE:LDI) Shares Down 4.1%

loanDepot, Inc. (NYSE:LDI) dropped 4.1% during trading on Tuesday . The stock traded as low as $2.12 and last traded at $2.12. Approximately 99,905 shares traded hands during trading, a decline of 78% from the average daily volume of 444,913 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

LDI has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st. The Goldman Sachs Group dropped their price objective on loanDepot from $2.25 to $1.50 and set a “sell” rating on the stock in a research note on Tuesday, July 2nd.

loanDepot Stock Performance

The company has a market cap of $669.83 million, a P/E ratio of -3.89 and a beta of 3.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 4.80. The stock has a 50 day moving average price of $1.86 and a two-hundred day moving average price of $2.26.

loanDepot (NYSE:LDI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The company had revenue of $222.79 million for the quarter, compared to analyst estimates of $232.65 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. On average, research analysts predict that loanDepot, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 38,504 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $2.03, for a total transaction of $78,163.12. Following the completion of the transaction, the director now directly owns 3,255,623 shares of the company’s stock, valued at approximately $6,608,914.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Frank Martell bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $2.09 per share, with a total value of $52,250.00. Following the transaction, the chief executive officer now directly owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony Li Hsieh sold 38,504 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total value of $78,163.12. Following the completion of the sale, the director now directly owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The disclosure for this sale can be found here. Insiders have sold 677,520 shares of company stock valued at $1,358,805 over the last 90 days. 83.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently modified their holdings of LDI. Jump Financial LLC purchased a new position in shares of loanDepot in the 4th quarter worth approximately $81,000. Counterpoint Mutual Funds LLC bought a new stake in shares of loanDepot in the 4th quarter worth approximately $106,000. Cullen Capital Management LLC bought a new stake in shares of loanDepot in the 4th quarter worth approximately $150,000. Cetera Advisors LLC raised its holdings in shares of loanDepot by 66.3% in the 1st 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 period. Finally, Empowered Funds LLC raised its holdings in loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after acquiring an additional 15,565 shares during the period. 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.