Insider Buying: loanDepot (NYSE:LDI) CEO Acquires $136,643.10 in Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Hsieh bought 145,365 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $0.94 per share, with a total value of $136,643.10. Following the transaction, the chief executive officer owned 939,792 shares of the company’s stock, valued at $883,404.48. The trade was a 18.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, September 1st, Anthony Hsieh purchased 60,208 shares of loanDepot stock. The shares were purchased at an average cost of $0.92 per share, for a total transaction of $55,391.36.
• On Thursday, August 27th, Anthony Hsieh purchased 38,612 shares of loanDepot stock. The stock was purchased at an average price of $0.94 per share, for a total transaction of $36,295.28.
• On Wednesday, August 26th, Anthony Hsieh acquired 284,349 shares of loanDepot stock. The stock was purchased at an average price of $0.89 per share, with a total value of $253,070.61.
• On Tuesday, August 25th, Anthony Hsieh acquired 364,367 shares of loanDepot stock. The shares were purchased at an average cost of $0.92 per share, with a total value of $335,217.64.
• On Monday, August 24th, Anthony Hsieh bought 107,099 shares of loanDepot stock. The shares were acquired at an average price of $0.89 per share, for a total transaction of $95,318.11.

loanDepot Stock Down 0.3%

Shares of NYSE LDI opened at $0.94 on Friday. The firm has a market capitalization of $316.67 million, a PE ratio of -3.12 and a beta of 3.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60. loanDepot, Inc. has a 1 year low of $0.83 and a 1 year high of $5.05. The firm’s 50-day moving average is $1.02 and its 200-day moving average is $1.32.

Analysts Set New Price Targets

A number of brokerages have issued reports on LDI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group set a $1.00 price objective on loanDepot in a research note on Monday, August 10th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $1.92.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently made changes to their positions in LDI. Millennium Management LLC grew its position in shares of loanDepot by 622.6% in 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 during the period. UBS Group AG boosted its stake in 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 purchasing an additional 1,855,136 shares during the period. Wasatch Advisors LP bought a new position in loanDepot during the 4th quarter worth about $3,229,000. Geode Capital Management LLC raised its stake in shares of loanDepot by 134.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,104,021 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of loanDepot in the first quarter valued at about $1,318,000. Institutional investors and hedge funds 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.