loanDepot (NYSE:LDI) Shares Gap Down to $2.36

loanDepot, Inc. (NYSE:LDI) gapped down prior to trading on Monday . The stock had previously closed at $2.36, but opened at $2.27. loanDepot shares last traded at $2.28, with a volume of 45,248 shares.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price target on loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Wednesday, March 13th.

loanDepot Price Performance

The stock has a fifty day moving average price of $2.49 and a 200-day moving average price of $2.36. The firm has a market capitalization of $694.64 million, a PE ratio of -3.49 and a beta of 3.13. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.23 and a current ratio of 1.23.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The business had revenue of $228.63 million during the quarter, compared to analyst estimates of $239.40 million. loanDepot had a negative return on equity of 20.63% and a negative net margin of 11.31%. Sell-side analysts forecast that loanDepot, Inc. will post -0.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Dan Binowitz sold 13,900 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total transaction of $32,526.00. Following the sale, the director now directly owns 783,251 shares of the company’s stock, valued at $1,832,807.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jeff Alexander Walsh sold 39,284 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $2.63, for a total transaction of $103,316.92. Following the sale, the insider now directly owns 3,954,678 shares of the company’s stock, valued at $10,400,803.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dan Binowitz sold 13,900 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total value of $32,526.00. Following the transaction, the director now owns 783,251 shares in the company, valued at approximately $1,832,807.34. The disclosure for this sale can be found here. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Hedge funds have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in shares of loanDepot in the fourth quarter valued at approximately $81,000. Counterpoint Mutual Funds LLC purchased a new position in loanDepot during the fourth quarter worth approximately $106,000. Cullen Capital Management LLC purchased a new position in loanDepot during the fourth quarter worth approximately $150,000. Wolverine Asset Management LLC lifted its position in loanDepot by 27.9% during the third quarter. Wolverine Asset Management LLC now owns 674,832 shares of the company’s stock worth $1,161,000 after buying an additional 147,198 shares in the last quarter. Finally, Knightsbridge Asset Management LLC increased its stake in loanDepot by 6.6% during the third quarter. Knightsbridge Asset Management LLC now owns 2,800,039 shares of the company’s stock worth $4,816,000 after acquiring an additional 172,802 shares during the last quarter. Hedge funds and other institutional investors 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.