Short Interest in loanDepot, Inc. (NYSE:LDI) Increases By 20.7%

loanDepot, Inc. (NYSE:LDI) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,445,817 shares, a growth of 20.7% from the February 26th total of 11,972,635 shares. Based on an average daily trading volume, of 3,169,535 shares, the days-to-cover ratio is presently 4.6 days. Currently, 25.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $2.40 price objective on loanDepot in a report on Tuesday, January 6th. Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. Finally, Bank of America set a $1.75 price target on shares of loanDepot in a research report on Monday, December 1st. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $2.38.

loanDepot Stock Up 4.8%

NYSE LDI traded up $0.07 during trading hours on Tuesday, hitting $1.42. The company’s stock had a trading volume of 2,008,092 shares, compared to its average volume of 3,472,685. The company has a market capitalization of $474.07 million, a PE ratio of -4.88, a price-to-earnings-growth ratio of 0.42 and a beta of 3.47. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22. loanDepot has a 52 week low of $1.01 and a 52 week high of $5.05. The company’s 50-day simple moving average is $1.96 and its two-hundred day simple moving average is $2.55.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%. Research analysts anticipate that loanDepot will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anthony Li Hsieh sold 884,495 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total transaction of $2,388,136.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 83.04% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently bought and sold shares of LDI. Invesco Ltd. purchased a new position in loanDepot during the 1st quarter worth $44,000. Goldman Sachs Group Inc. lifted its position in shares of loanDepot by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after purchasing an additional 85,129 shares in the last quarter. Jane Street Group LLC purchased a new position in loanDepot during the first quarter worth about $122,000. Geode Capital Management LLC boosted its holdings in loanDepot by 134.4% during the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after purchasing an additional 1,104,021 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in loanDepot in the 2nd quarter worth about $67,000. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.