loanDepot (NYSE:LDI) Shares Up 3%

loanDepot, Inc. (NYSE:LDI)’s share price was up 3% during trading on Friday . The company traded as high as $2.43 and last traded at $2.39. Approximately 43,711 shares traded hands during trading, a decline of 90% from the average daily volume of 457,606 shares. The stock had previously closed at $2.32.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their target price on loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Wednesday, March 13th.

loanDepot Trading Up 0.9 %

The company has a 50-day moving average price of $2.50 and a 200-day moving average price of $2.33. The firm has a market capitalization of $756.03 million, a price-to-earnings ratio of -3.71 and a beta of 3.13. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.23 and a current ratio of 1.23.

loanDepot (NYSE:LDI) last posted its earnings results on Tuesday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.11). The firm had revenue of $228.63 million during the quarter, compared to analysts’ expectations of $239.40 million. loanDepot had a negative net margin of 11.31% and a negative return on equity of 20.63%. As a group, research analysts forecast that loanDepot, Inc. will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeff Alexander Walsh sold 39,284 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $2.63, for a total value of $103,316.92. Following the sale, the insider now owns 3,954,678 shares in the company, valued at approximately $10,400,803.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Dan Binowitz sold 13,900 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total value of $32,526.00. Following the transaction, the director now directly owns 783,251 shares of the company’s stock, valued at approximately $1,832,807.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff Alexander Walsh sold 39,284 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $2.63, for a total value of $103,316.92. Following the completion of the transaction, the insider now directly owns 3,954,678 shares in the company, valued at $10,400,803.14. The disclosure for this sale can be found here. Insiders own 83.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of loanDepot during the first quarter valued at about $47,000. BlackRock Inc. grew its stake in shares of loanDepot by 14.4% during the first quarter. BlackRock Inc. now owns 168,161 shares of the company’s stock valued at $698,000 after acquiring an additional 21,217 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of loanDepot by 61.8% during the first quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock valued at $10,047,000 after acquiring an additional 925,002 shares in the last quarter. State Street Corp grew its stake in shares of loanDepot by 10.0% during the first quarter. State Street Corp now owns 664,348 shares of the company’s stock valued at $2,757,000 after acquiring an additional 60,638 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of loanDepot during the second quarter valued at about $33,000. 39.39% of the stock is owned by hedge funds and other institutional investors.

About loanDepot

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.