loanDepot (NYSE:LDI) Trading 4.7% Higher – What’s Next?

loanDepot, Inc. (NYSE:LDI)’s share price was up 4.7% during mid-day trading on Monday . The stock traded as high as $2.07 and last traded at $2.02. Approximately 470,545 shares were traded during trading, a decline of 24% from the average daily volume of 619,498 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LDI. The Goldman Sachs Group lifted their price objective on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th. UBS Group lifted their price target on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

loanDepot Stock Performance

The stock has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $2.25. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $667.08 million, a price-to-earnings ratio of -3.92 and a beta of 3.42.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now owns 3,938,792 shares of the company’s stock, valued at approximately $9,965,143.76. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 18,806 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.06, for a total transaction of $38,740.36. Following the sale, the director now directly owns 2,927,686 shares of the company’s stock, valued at approximately $6,031,033.16. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,620,519 shares of company stock valued at $3,534,286 over the last quarter. Corporate insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Institutional investors have recently bought and sold shares of the business. Park Avenue Securities LLC acquired a new position in shares of loanDepot during the 3rd quarter worth about $27,000. Jane Street Group LLC acquired a new position in loanDepot during the third quarter valued at approximately $54,000. Atria Investments Inc increased its stake in loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after purchasing an additional 6,372 shares in the last quarter. American Century Companies Inc. raised its holdings in 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 period. Finally, Verition Fund Management LLC grew its holdings in shares of loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares during the period. Institutional investors and hedge funds 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.