loanDepot (NYSE:LDI) Stock Price Down 3.8% After Insider Selling

loanDepot, Inc. (NYSE:LDI) fell 3.8% during trading on Friday following insider selling activity. The stock traded as low as $4.12 and last traded at $4.08. 5,047,199 shares changed hands during trading, an increase of 132% from the average session volume of 2,172,840 shares. The stock had previously closed at $4.24.

Specifically, CEO Anthony Li Hsieh sold 1,300,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $4.10, for a total transaction of $5,330,000.00. Following the transaction, the chief executive officer directly owned 1,350,000 shares in the company, valued at approximately $5,535,000. This trade represents a 49.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Darren Graeler sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $4.30, for a total transaction of $430,000.00. Following the completion of the sale, the chief accounting officer owned 219,871 shares of the company’s stock, valued at approximately $945,445.30. This trade represents a 31.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Anthony Li Hsieh sold 2,043,712 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $3.25, for a total value of $6,642,064.00. Following the completion of the transaction, the chief executive officer owned 2,650,000 shares in the company, valued at $8,612,500. This trade represents a 43.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LDI shares. UBS Group raised their target price on shares of loanDepot from $1.40 to $1.90 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Wall Street Zen lowered shares of loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, BTIG Research restated a “neutral” rating on shares of loanDepot in a research report on Wednesday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, loanDepot has a consensus rating of “Reduce” and a consensus price target of $2.30.

loanDepot Stock Performance

The stock’s fifty day simple moving average is $2.04 and its 200-day simple moving average is $1.55. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -12.95 and a beta of 3.38. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wilshire Advisors LLC raised its holdings in shares of loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock valued at $33,000 after purchasing an additional 7,899 shares in the last quarter. Cetera Investment Advisers grew its position in shares of loanDepot by 11.8% in the 4th quarter. Cetera Investment Advisers now owns 103,148 shares of the company’s stock valued at $210,000 after buying an additional 10,846 shares during the last quarter. Capstone Financial Advisors Inc. grew its position in shares of loanDepot by 60.0% in the 1st quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company’s stock valued at $48,000 after buying an additional 15,000 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of loanDepot in the 4th quarter valued at $33,000. Finally, Northern Trust Corp grew its position in shares of loanDepot by 11.4% in the 4th quarter. Northern Trust Corp now owns 157,130 shares of the company’s stock valued at $321,000 after buying an additional 16,033 shares during the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Company Profile

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.