loanDepot, Inc. (NYSE:LDI – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $2.28, but opened at $2.03. loanDepot shares last traded at $2.18, with a volume of 127,941 shares.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group decreased their price target on shares of loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Wednesday, March 13th.
Check Out Our Latest Stock Analysis on loanDepot
loanDepot Stock Performance
loanDepot (NYSE:LDI – Get Free Report) last posted its quarterly earnings results 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). loanDepot had a negative return on equity of 20.63% and a negative net margin of 11.31%. The business had revenue of $228.63 million for the quarter, compared to the consensus estimate of $239.40 million. Research analysts predict that loanDepot, Inc. will post -0.05 earnings per share for the current fiscal year.
Insider Buying and Selling at loanDepot
In other loanDepot 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 transaction, the director now owns 783,251 shares in the company, valued at $1,832,807.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 83.04% of the company’s stock.
Institutional Investors Weigh In On loanDepot
Several large investors have recently bought and sold shares of LDI. Empowered Funds LLC grew its stake in loanDepot by 8.2% in the first 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. G2 Investment Partners Management LLC bought a new position in shares of loanDepot during the 4th quarter valued at about $792,000. Cullen Capital Management LLC acquired a new position in shares of loanDepot in the 4th quarter valued at approximately $150,000. CastleKnight Management LP bought a new stake in loanDepot during the 4th quarter worth approximately $1,644,000. Finally, Jump Financial LLC bought a new stake in loanDepot during the 4th quarter worth approximately $81,000. 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.
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