Insider Selling: loanDepot (NYSE:LDI) CEO Sells 260,251 Shares of Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh sold 260,251 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $2.49, for a total value of $648,024.99. Following the sale, the chief executive officer owned 1,039,749 shares of the company’s stock, valued at $2,588,975.01. This represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anthony Li Hsieh also recently made the following trade(s):

• On Tuesday, December 16th, Anthony Li Hsieh sold 290,108 shares of loanDepot stock. The shares were sold at an average price of $2.41, for a total value of $699,160.28.
• On Wednesday, December 10th, Anthony Li Hsieh sold 230,815 shares of loanDepot stock. The stock was sold at an average price of $2.69, for a total value of $620,892.35.
• On Tuesday, December 9th, Anthony Li Hsieh sold 399,919 shares of loanDepot stock. The stock was sold at an average price of $2.67, for a total transaction of $1,067,783.73.
• On Monday, December 8th, Anthony Li Hsieh sold 369,266 shares of loanDepot stock. The shares were sold at an average price of $2.81, for a total transaction of $1,037,637.46.
• On Monday, November 17th, Anthony Li Hsieh sold 178,501 shares of loanDepot stock. The shares were sold at an average price of $2.50, for a total transaction of $446,252.50.
• On Friday, November 14th, Anthony Li Hsieh sold 1,121,499 shares of loanDepot stock. The stock was sold at an average price of $2.50, for a total transaction of $2,803,747.50.
• On Wednesday, November 12th, Anthony Li Hsieh sold 700,000 shares of loanDepot stock. The stock was sold at an average price of $2.87, for a total transaction of $2,009,000.00.
• On Tuesday, October 14th, Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock. The shares were sold at an average price of $2.87, for a total transaction of $3,731,000.00.

loanDepot Stock Down 7.3%

Shares of NYSE:LDI traded down $0.18 during midday trading on Wednesday, hitting $2.23. 5,906,814 shares of the company’s stock traded hands, compared to its average volume of 3,687,675. The firm’s fifty day moving average price is $2.88 and its two-hundred day moving average price is $2.38. 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, Inc. has a twelve month low of $1.01 and a twelve month high of $5.05. The company has a market cap of $741.46 million, a PE ratio of -6.18 and a beta of 3.45.

loanDepot (NYSE:LDI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $325.16 million for the quarter, compared to analyst estimates of $309.20 million. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%. On average, equities research analysts anticipate that loanDepot, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group boosted their price target on loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Morgan Stanley set a $1.75 price objective on shares of loanDepot in a research note on Monday, December 1st. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, loanDepot currently has an average rating of “Reduce” and a consensus price target of $2.58.

Hedge Funds Weigh In On loanDepot

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in loanDepot by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after acquiring an additional 85,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of loanDepot by 1,671.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company’s stock worth $780,000 after purchasing an additional 618,153 shares during the last quarter. Philosophy Capital Management LLC increased its position in shares of loanDepot by 73.3% in the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after purchasing an additional 1,751,245 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of loanDepot in the 1st quarter valued at about $1,469,000. Finally, Wolverine Asset Management LLC lifted its position in shares of loanDepot by 15.6% during the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock worth $1,497,000 after purchasing an additional 158,739 shares during the last quarter. 39.39% of the stock is currently 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.