loanDepot (NYSE:LDI) Trading Down 3.9% – Time to Sell?

loanDepot, Inc. (NYSE:LDI)’s share price dropped 3.9% during trading on Thursday . The stock traded as low as $1.74 and last traded at $1.74. Approximately 49,531 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 836,755 shares. The stock had previously closed at $1.81.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their target price on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research note on Thursday, November 14th.

loanDepot Price Performance

The stock has a market capitalization of $577.16 million, a price-to-earnings ratio of -3.39, a price-to-earnings-growth ratio of 0.26 and a beta of 3.41. The company has a 50 day moving average of $2.13 and a 200 day moving average of $2.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insider Transactions at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the completion of the transaction, the insider now owns 3,938,792 shares in the company, valued at $9,965,143.76. This represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 255,428 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $2.11, for a total value of $538,953.08. Following the completion of the transaction, the director now owns 7,672,258 shares of the company’s stock, valued at approximately $16,188,464.38. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,359,358 shares of company stock worth $3,001,142. 83.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On loanDepot

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC purchased a new position in loanDepot in the 3rd quarter worth approximately $2,180,000. Geode Capital Management LLC raised its position in shares of loanDepot by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock valued at $1,968,000 after acquiring an additional 125,059 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of loanDepot during the 3rd quarter valued at approximately $897,000. Empowered Funds LLC raised its position in shares of loanDepot by 5.3% during the 3rd 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of loanDepot by 390.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after acquiring an additional 158,221 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.