Short Interest in loanDepot, Inc. (NYSE:LDI) Rises By 54.4%

loanDepot, Inc. (NYSE:LDI) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, an increase of 54.4% from the February 28th total of 1,710,000 shares. Based on an average trading volume of 964,900 shares, the short-interest ratio is presently 2.7 days. Currently, 3.6% of the shares of the stock are sold short.

loanDepot Stock Down 2.8 %

NYSE LDI traded down $0.04 during trading on Friday, reaching $1.20. The company’s stock had a trading volume of 1,233,613 shares, compared to its average volume of 738,338. The business has a 50-day moving average price of $1.60 and a 200-day moving average price of $2.02. loanDepot has a 1-year low of $1.16 and a 1-year high of $3.23. The stock has a market capitalization of $392.30 million, a PE ratio of -2.30, a PEG ratio of 0.25 and a beta of 3.36. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aquatic Capital Management LLC acquired a new position in loanDepot in the fourth quarter valued at about $30,000. Alpine Global Management LLC acquired a new position in shares of loanDepot in the 4th quarter worth approximately $33,000. Boothbay Fund Management LLC bought a new stake in loanDepot during the 4th quarter worth approximately $41,000. Jane Street Group LLC acquired a new stake in loanDepot during the 3rd quarter valued at $54,000. Finally, RPO LLC bought a new position in loanDepot in the 4th quarter valued at $55,000. Institutional investors own 39.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut their target price on shares of loanDepot from $2.00 to $1.35 and set a “neutral” rating for the company in a research note on Friday, March 14th.

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.