loanDepot (NYSE:LDI) Trading Down 4.5% on Insider Selling

loanDepot, Inc. (NYSE:LDI) dropped 4.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $2.90 and last traded at $2.8750. Approximately 350,851 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,657,812 shares. The stock had previously closed at $3.01.

Specifically, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $3.01, for a total value of $752,500.00. Following the sale, the executive owned 1,074,695 shares in the company, valued at $3,234,831.95. This represents a 18.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a research report on Wednesday, September 10th. UBS Group raised their target price on shares of 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 lifted their target price on shares of loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, loanDepot presently has a consensus rating of “Reduce” and an average target price of $3.00.

loanDepot Trading Down 8.1%

The business’s fifty day moving average price is $3.03 and its 200 day moving average price is $2.23. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 6.94. The firm has a market capitalization of $921.74 million, a PE ratio of -7.68 and a beta of 3.45.

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

Institutional Investors Weigh In On loanDepot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its position in loanDepot by 622.6% during the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after buying an additional 4,842,751 shares during the period. UBS Group AG increased its stake in shares of loanDepot by 1,125.1% during the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after acquiring an additional 1,855,136 shares during the last quarter. Philosophy Capital Management LLC lifted its holdings in shares of 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 stake in shares of loanDepot in the first quarter worth approximately $1,469,000. Finally, Geode Capital Management LLC grew its holdings in loanDepot by 134.4% in the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,104,021 shares during the period. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.