loanDepot (NYSE:LDI) Stock Price Down 4.8%

loanDepot, Inc. (NYSE:LDIGet Free Report)’s share price fell 4.8% during trading on Monday . The company traded as low as $1.96 and last traded at $1.98. 284,593 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 456,194 shares. The stock had previously closed at $2.08.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price objective on loanDepot from $3.00 to $2.50 and set a “sell” rating for the company in a research note on Wednesday, March 13th.

Read Our Latest Stock Report on LDI

loanDepot Price Performance

The stock has a market capitalization of $637.47 million, a price-to-earnings ratio of -3.46 and a beta of 3.44. The company has a debt-to-equity ratio of 4.80, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day moving average price of $2.19 and a 200-day moving average price of $2.50.

loanDepot (NYSE:LDIGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The company had revenue of $222.79 million for the quarter, compared to analyst estimates of $232.65 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. On average, analysts forecast that loanDepot, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 198,866 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $2.20, for a total transaction of $437,505.20. Following the sale, the director now owns 3,590,891 shares in the company, valued at approximately $7,899,960.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Anthony Li Hsieh sold 198,866 shares of loanDepot stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $2.20, for a total value of $437,505.20. Following the completion of the transaction, the director now directly owns 3,590,891 shares in the company, valued at $7,899,960.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Martell bought 36,639 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $1.77 per share, for a total transaction of $64,851.03. Following the acquisition, the chief executive officer now directly owns 595,248 shares of the company’s stock, valued at $1,053,588.96. The disclosure for this purchase can be found here. Insiders sold a total of 633,357 shares of company stock valued at $1,284,495 in the last ninety days. Insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new stake in shares of loanDepot during the 4th quarter valued at about $81,000. Counterpoint Mutual Funds LLC bought a new stake in shares of loanDepot during the fourth quarter worth approximately $106,000. Cullen Capital Management LLC bought a new stake in loanDepot in the fourth quarter valued at approximately $150,000. Cetera Advisors LLC increased its stake in loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after purchasing an additional 45,173 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of loanDepot by 8.2% during the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after acquiring an additional 15,565 shares in the last quarter. Institutional investors and hedge funds own 39.39% of the company’s stock.

loanDepot Company Profile

(Get Free Report)

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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