loanDepot (NYSE:LDI) Trading Up 11.1% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI) shares were up 11.1% during mid-day trading on Wednesday . The stock traded as high as $2.54 and last traded at $2.5450. Approximately 5,933,962 shares changed hands during mid-day trading, an increase of 97% from the average daily volume of 3,005,664 shares. The stock had previously closed at $2.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LDI shares. UBS Group raised their target price on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Morgan Stanley set a $1.75 price objective on shares of loanDepot in a report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, BTIG Research reissued a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, loanDepot has an average rating of “Reduce” and an average target price of $2.38.

loanDepot Stock Performance

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 company has a market cap of $814.77 million, a price-to-earnings ratio of -6.85, a PEG ratio of 0.52 and a beta of 3.47. The firm’s 50-day moving average price is $2.57 and its 200 day moving average price is $2.47.

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

Insider Activity

In other news, CEO Anthony Li Hsieh sold 1,300,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $2.87, for a total value of $3,731,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Jeffrey Michael Dergurahian sold 250,000 shares of loanDepot stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $3.01, for a total transaction of $752,500.00. Following the transaction, the executive directly owned 1,074,695 shares in the company, valued at $3,234,831.95. The trade was a 18.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,890,027 shares of company stock valued at $15,651,377 over the last 90 days. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently made changes to their positions in LDI. Goldman Sachs Group Inc. grew its position in shares of loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after purchasing an additional 85,129 shares during the period. Wolverine Asset Management LLC lifted its stake in loanDepot by 15.6% in the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock valued at $1,497,000 after buying an additional 158,739 shares in the last quarter. Continental Advisors LLC bought a new position in loanDepot in the second quarter valued at approximately $656,000. Wilshire Advisors LLC boosted its holdings in shares of loanDepot by 39.8% in the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock valued at $33,000 after buying an additional 7,899 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of loanDepot during the second quarter worth $46,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

loanDepot Company Profile

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.