loanDepot (NYSE:LDI) Shares Down 0.5% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI)’s share price fell 0.5% during trading on Tuesday . The company traded as low as $2.12 and last traded at $2.12. 2,155,842 shares were traded during mid-day trading, a decline of 42% from the average session volume of 3,697,663 shares. The stock had previously closed at $2.13.

Analysts Set New Price Targets

LDI has been the subject of a number of recent research reports. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Morgan Stanley set a $1.75 price target on shares of loanDepot in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $2.40 target price on shares of loanDepot in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.38.

loanDepot Stock Down 0.5%

The company has a fifty day moving average price of $2.43 and a 200-day moving average price of $2.64. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market capitalization of $706.47 million, a PE ratio of -5.89, a PEG ratio of 0.50 and a beta of 3.48.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Li Hsieh sold 1,121,499 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $2.50, for a total transaction of $2,803,747.50. Following the transaction, the chief executive officer owned 178,501 shares of the company’s stock, valued at approximately $446,252.50. This represents a 86.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $3.01, for a total value of $752,500.00. Following the completion of the transaction, the executive directly owned 1,074,695 shares in the company, valued at $3,234,831.95. This trade represents a 18.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,159,403 shares of company stock valued at $13,316,254 over the last ninety days. 83.04% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its holdings in loanDepot by 622.6% during the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after buying an additional 4,842,751 shares during the period. Vanguard Group Inc. boosted its position in loanDepot by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after acquiring an additional 226,347 shares in the last quarter. Geode Capital Management LLC boosted its position in loanDepot by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock valued at $4,543,000 after acquiring an additional 148,644 shares in the last quarter. UBS Group AG raised its position in shares of loanDepot by 1,125.1% in the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after acquiring an additional 1,855,136 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of loanDepot by 15.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock worth $1,497,000 after acquiring an additional 158,739 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.