loanDepot (NYSE:LDI) Trading Down 3.3% on Insider Selling

loanDepot, Inc. (NYSE:LDI) shares were down 3.3% on Monday following insider selling activity. The company traded as low as $2.20 and last traded at $2.1750. Approximately 1,274,269 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,674,237 shares. The stock had previously closed at $2.25.

Specifically, CEO Anthony Li Hsieh sold 217,774 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $2.28, for a total value of $496,524.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Li Hsieh sold 223,488 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $2.32, for a total value of $518,492.16. Following the sale, the chief executive officer owned 217,774 shares of the company’s stock, valued at approximately $505,235.68. The trade was a 50.65% decrease in their position. The SEC filing for this sale provides additional information. In other loanDepot news, CEO Anthony Li Hsieh sold 308,379 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $2.29, for a total value of $706,187.91. Following the transaction, the chief executive officer directly owned 441,262 shares in the company, valued at $1,010,489.98. This represents a 41.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

LDI has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. The Goldman Sachs Group upped their price objective on shares of loanDepot from $1.45 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $1.75 target price on loanDepot in a research report on Monday, December 1st. Finally, UBS Group upped their target price on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $2.58.

loanDepot Stock Performance

The stock has a market cap of $714.80 million, a PE ratio of -5.96 and a beta of 3.45. The stock has a fifty day moving average of $2.81 and a 200-day moving average of $2.41. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 6.94.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping 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 company had revenue of $325.16 million during the quarter, compared to analysts’ expectations of $309.20 million. On average, equities analysts forecast that loanDepot, Inc. will post -0.23 EPS 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. Wilshire Advisors LLC raised its position in loanDepot by 39.8% during the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock worth $33,000 after buying an additional 7,899 shares during the last quarter. Jones Financial Companies Lllp raised its position in loanDepot by 8,934.0% in the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after acquiring an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. acquired a new stake in loanDepot in the third quarter valued at $31,000. CWM LLC acquired a new stake in shares of loanDepot during the 3rd quarter valued at approximately $32,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in loanDepot during the third quarter worth $31,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.