loanDepot (NYSE:LDI) Stock Price Down 5.5% – What’s Next?

loanDepot, Inc. (NYSE:LDI) traded down 5.5% on Tuesday . The stock traded as low as $2.61 and last traded at $2.6750. 1,215,223 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 3,657,742 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

LDI has been the subject of a number of research analyst reports. Morgan Stanley set a $1.75 target price on shares of loanDepot in a research report on Monday, December 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research note on Wednesday, October 8th. 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 research note on Friday, October 10th. BTIG Research restated a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group increased their price target on loanDepot from $1.45 to $3.00 and gave the company a “sell” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, loanDepot currently has an average rating of “Reduce” and an average target price of $2.58.

loanDepot Stock Performance

The company has a market capitalization of $881.42 million, a price-to-earnings ratio of -7.35 and a beta of 3.45. The company’s fifty day simple moving average is $2.92 and its two-hundred day simple moving average is $2.33. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.19 and a current ratio of 1.19.

loanDepot (NYSE:LDI) last issued its earnings results 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 net margin of 6.46% and a negative return on equity of 22.40%. The company had revenue of $325.16 million for the quarter, compared to analysts’ expectations of $309.20 million. Equities research analysts predict that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dawn G. Lepore sold 9,403 shares of loanDepot stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $2.73, for a total value of $25,670.19. Following the sale, the director directly owned 183,745 shares in the company, valued at $501,623.85. This trade represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Darren Graeler sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $4.30, for a total transaction of $430,000.00. Following the completion of the sale, the chief accounting officer owned 219,871 shares in the company, valued at $945,445.30. The trade was a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,340,027 shares of company stock worth $21,840,174. Company insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Large investors have recently bought and sold shares of the stock. Alpine Global Management LLC bought a new position in shares of loanDepot in the third quarter valued at approximately $307,000. Militia Capital Partners LP bought a new position in loanDepot during the 3rd quarter valued at $596,000. Millennium Management LLC boosted its stake in loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after purchasing an additional 4,842,751 shares in the last quarter. Bank of America Corp DE increased its position in shares of loanDepot by 267.5% during the 3rd quarter. Bank of America Corp DE now owns 207,219 shares of the company’s stock valued at $636,000 after purchasing an additional 150,837 shares during the period. Finally, Alight Capital Management LP bought a new stake in shares of loanDepot in the 3rd quarter worth $1,382,000. Institutional investors and hedge funds 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.