loanDepot (NYSE:LDI) Trading Up 10.3% – Here’s Why

Shares of loanDepot, Inc. (NYSE:LDI) rose 10.3% during mid-day trading on Friday . The stock traded as high as $3.04 and last traded at $2.9450. Approximately 2,128,680 shares traded hands during trading, a decline of 58% from the average daily volume of 5,127,557 shares. The stock had previously closed at $2.67.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Wednesday, October 8th. UBS Group boosted their target price on loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. The Goldman Sachs Group set a $2.40 price target on loanDepot in a report on Tuesday, January 6th. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Morgan Stanley set a $1.75 target price on loanDepot in a report on Monday, December 1st. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, loanDepot presently has a consensus rating of “Reduce” and a consensus target price of $2.38.

loanDepot Price Performance

The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.89, a PEG ratio of 0.75 and a beta of 3.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 6.94. The company has a 50 day moving average price of $2.54 and a 200 day moving average price of $2.54.

loanDepot (NYSE:LDI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $325.16 million for the quarter, compared to analyst estimates of $309.20 million. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%. As a group, equities research analysts forecast that loanDepot, Inc. will post -0.23 earnings per share for the current year.

Insider Buying and Selling at loanDepot

In related news, CEO Anthony Li Hsieh sold 884,495 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $2.70, for a total transaction of $2,388,136.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,890,027 shares of company stock worth $15,413,757 over the last ninety days. Insiders own 78.05% of the company’s stock.

Institutional Trading of loanDepot

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of loanDepot by 622.6% in the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares during the last quarter. Vanguard Group Inc. lifted its stake in loanDepot by 5.3% in the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after buying an additional 226,347 shares during the period. UBS Group AG boosted its holdings in loanDepot by 1,125.1% during the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after buying an additional 1,855,136 shares during the last quarter. Geode Capital Management LLC grew its position in shares of loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after buying an additional 1,104,021 shares during the period. Finally, Wolverine Asset Management LLC increased its stake in shares of loanDepot by 15.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock valued at $1,497,000 after acquiring an additional 158,739 shares during the last quarter. Institutional investors own 39.39% of the company’s stock.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.