loanDepot (NYSE:LDI) Shares Gap Up Following Insider Buying Activity

Shares of loanDepot, Inc. (NYSE:LDIGet Free Report) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $1.78, but opened at $1.85. loanDepot shares last traded at $1.81, with a volume of 39,880 shares changing hands.

Specifically, Director Anthony Li Hsieh sold 198,866 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 3,590,891 shares in the company, valued at $7,899,960.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other loanDepot news, Director Dan Binowitz sold 13,900 shares of loanDepot stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.34, for a total transaction of $32,526.00. Following the transaction, the director now directly owns 783,251 shares of the company’s stock, valued at $1,832,807.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 198,866 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $2.20, for a total transaction of $437,505.20. Following the completion of the sale, the director now directly owns 3,590,891 shares of the company’s stock, valued at approximately $7,899,960.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,480 shares of company stock worth $792,090. Insiders own 83.04% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Report on LDI

loanDepot Stock Up 1.4 %

The business’s 50 day moving average price is $2.28 and its 200-day moving average price is $2.48. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $584.08 million, a PE ratio of -3.17 and a beta of 3.54.

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

Hedge Funds Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC purchased a new stake in shares of loanDepot during the fourth quarter worth approximately $81,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of loanDepot in the 4th quarter valued at $106,000. Cullen Capital Management LLC acquired a new stake in shares of loanDepot during the fourth quarter worth about $150,000. Cetera Advisors LLC lifted its holdings in shares of loanDepot by 66.3% in the 1st 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 during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of loanDepot by 8.2% in the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after purchasing an additional 15,565 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

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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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