Insider Selling: loanDepot (NYSE:LDI) CEO Sells $2,009,000.00 in Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh sold 700,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $2.87, for a total value of $2,009,000.00. Following the completion of the sale, the chief executive officer owned 1,300,000 shares in the company, valued at approximately $3,731,000. This represents a 35.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Anthony Li Hsieh also recently made the following trade(s):

• On Tuesday, October 14th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $2.87, for a total value of $3,731,000.00.
• On Monday, September 15th, Anthony Li Hsieh sold 1,350,000 shares of loanDepot stock. The stock was sold at an average price of $4.61, for a total transaction of $6,223,500.00.
• On Friday, September 12th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $4.10, for a total value of $5,330,000.00.
• On Tuesday, September 9th, Anthony Li Hsieh sold 2,043,712 shares of loanDepot stock. The shares were sold at an average price of $3.25, for a total value of $6,642,064.00.
• On Friday, September 5th, Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock. The shares were sold at an average price of $2.64, for a total transaction of $8,041,453.20.
• On Thursday, September 4th, Anthony Li Hsieh sold 1,110,454 shares of loanDepot stock. The shares were sold at an average price of $2.17, for a total value of $2,409,685.18.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The shares were sold at an average price of $2.10, for a total transaction of $443,265.90.
• On Friday, August 29th, Anthony Li Hsieh sold 211,079 shares of loanDepot stock. The stock was sold at an average price of $2.10, for a total transaction of $443,265.90.
• On Thursday, August 28th, Anthony Li Hsieh sold 250,000 shares of loanDepot stock. The shares were sold at an average price of $2.03, for a total value of $507,500.00.
• On Thursday, August 28th, Anthony Li Hsieh sold 250,000 shares of loanDepot stock. The stock was sold at an average price of $2.03, for a total value of $507,500.00.

loanDepot Price Performance

loanDepot stock opened at $2.54 on Monday. loanDepot, Inc. has a 1 year low of $1.01 and a 1 year high of $5.05. 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 firm has a market capitalization of $844.76 million, a P/E ratio of -7.04 and a beta of 3.45. The business has a 50-day moving average of $3.26 and a 200-day moving average of $2.15.

loanDepot (NYSE:LDI) last posted its earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%.The firm had revenue of $325.16 million during the quarter, compared to analysts’ expectations of $309.20 million. On average, equities analysts anticipate that loanDepot, Inc. will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on LDI. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. UBS Group boosted their price target on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a report on Friday, October 10th. The Goldman Sachs Group increased their price objective on loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, loanDepot has an average rating of “Reduce” and a consensus target price of $3.00.

Hedge Funds Weigh In On loanDepot

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings 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 worth $436,000 after buying an additional 85,129 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in loanDepot by 1,671.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company’s stock worth $780,000 after buying an additional 618,153 shares in the last quarter. Philosophy Capital Management LLC increased its stake in loanDepot by 73.3% during the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after acquiring an additional 1,751,245 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in loanDepot in the first quarter valued at about $1,469,000. Finally, Wolverine Asset Management LLC lifted its position in loanDepot by 15.6% during the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock worth $1,497,000 after purchasing an additional 158,739 shares during the period. 39.39% of the stock is owned by institutional investors.

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.