Jeffrey Michael Dergurahian Sells 100,000 Shares of loanDepot, Inc. (NYSE:LDI) Stock

Posted by admin on Jul 23rd, 2022

loanDepot, Inc. (NYSE:LDI – Get Rating) insider Jeffrey Michael Dergurahian sold 100,000 shares of loanDepot stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $1.63, for a total transaction of $163,000.00. Following the transaction, the insider now directly owns 6,842,969 shares in the company, valued at $11,154,039.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jeffrey Michael Dergurahian also recently made the following trade(s):

On Thursday, July 7th, Jeffrey Michael Dergurahian sold 100,000 shares of loanDepot stock. The shares were sold at an average price of $1.53, for a total transaction of $153,000.00.
On Wednesday, June 22nd, Jeffrey Michael Dergurahian sold 100,000 shares of loanDepot stock. The shares were sold at an average price of $1.47, for a total transaction of $147,000.00.

loanDepot Trading Down 2.9 %

Shares of loanDepot stock opened at $1.66 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a fifty day moving average price of $2.03 and a 200 day moving average price of $3.29. loanDepot, Inc. has a 1 year low of $1.34 and a 1 year high of $11.39. The stock has a market cap of $517.44 million, a PE ratio of 6.15 and a beta of 1.81.

loanDepot (NYSE:LDI – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.29). loanDepot had a return on equity of 9.56% and a net margin of 1.16%. The business had revenue of $503.31 million for the quarter, compared to analysts’ expectations of $686.33 million. During the same period last year, the business earned $0.98 EPS. Equities research analysts predict that loanDepot, Inc. will post -0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JMP Securities downgraded shares of loanDepot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 11th. Piper Sandler lowered their target price on shares of loanDepot from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, June 28th. Citigroup downgraded shares of loanDepot from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $2.00 in a research note on Wednesday, May 11th. Barclays lowered their target price on shares of loanDepot from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Finally, The Goldman Sachs Group raised their target price on shares of loanDepot to $1.70 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.05.

Institutional Trading of loanDepot

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in loanDepot by 1,293.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,025,400 shares of the company’s stock worth $4,922,000 after acquiring an additional 951,819 shares during the last quarter. HST Ventures LLC acquired a new position in loanDepot during the fourth quarter worth about $1,049,000. Mraz Amerine & Associates Inc. acquired a new position in loanDepot during the first quarter worth about $77,000. Oregon Public Employees Retirement Fund boosted its position in loanDepot by 287.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,992,633 shares of the company’s stock worth $9,565,000 after acquiring an additional 1,478,331 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in loanDepot during the fourth quarter worth about $5,182,000. Hedge funds and other institutional investors own 4.12% of the company’s stock.

About loanDepot

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loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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.