loanDepot, Inc. (NYSE:LDI) Short Interest Update

loanDepot, Inc. (NYSE:LDI) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,445,817 shares, a growth of 20.7% from the February 26th total of 11,972,635 shares. Currently, 25.4% of the company’s shares are sold short. Based on an average daily volume of 3,169,535 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Thursday, January 22nd. The Goldman Sachs Group set a $2.40 price objective on shares of loanDepot in a research note on Tuesday, January 6th. Zacks Research cut shares of loanDepot from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. Finally, BTIG Research reissued a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of $2.38.

loanDepot Stock Performance

Shares of LDI opened at $1.42 on Thursday. loanDepot has a 12 month low of $1.01 and a 12 month high of $5.05. The stock has a fifty day moving average price of $1.91 and a 200-day moving average price of $2.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22. The firm has a market cap of $474.07 million, a PE ratio of -4.88, a P/E/G ratio of 0.44 and a beta of 3.55.

loanDepot (NYSE:LDI) last announced its earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%.The business had revenue of $316.27 million for the quarter, compared to analysts’ expectations of $333.29 million. Equities research analysts predict that loanDepot will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Li Hsieh sold 884,495 shares of loanDepot stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total transaction of $2,388,136.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 78.05% of the stock is owned by insiders.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of LDI. Jones Financial Companies Lllp boosted its stake in loanDepot by 8,934.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after purchasing an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in loanDepot during the 3rd quarter valued at approximately $31,000. CWM LLC acquired a new position in loanDepot during the 3rd quarter valued at approximately $32,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of loanDepot in the third quarter worth $31,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of loanDepot in the third quarter worth $35,000. 39.39% of the stock is 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.