loanDepot (NYSE:LDI) Stock Price Up 4.7% – Here’s Why

Shares of loanDepot, Inc. (NYSE:LDI) shot up 4.7% during trading on Tuesday . The stock traded as high as $2.23 and last traded at $2.22. 504,429 shares changed hands during trading, a decline of 18% from the average session volume of 611,702 shares. The stock had previously closed at $2.12.

Analyst Ratings Changes

LDI has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research note on Thursday, November 14th. UBS Group upped their price target on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

loanDepot Trading Down 6.1 %

The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $604.95 million, a price-to-earnings ratio of -3.56 and a beta of 3.42. The business has a fifty day moving average price of $2.25 and a 200 day moving average price of $2.25.

Insider Buying and Selling at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the completion of the transaction, the insider now owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony Li Hsieh sold 242,355 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $2.04, for a total value of $494,404.20. Following the sale, the director now owns 3,154,253 shares in the company, valued at approximately $6,434,676.12. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,657,330 shares of company stock valued at $3,632,204 in the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LDI. Wolverine Asset Management LLC grew its position in shares of loanDepot by 6.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after buying an additional 57,546 shares during the period. American Century Companies Inc. lifted its stake in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after buying an additional 19,655 shares during the period. Dimensional Fund Advisors LP boosted its holdings in loanDepot by 390.6% during the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after buying an additional 158,221 shares during the last quarter. 272 Capital LP grew its position in shares of loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after buying an additional 94,883 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of loanDepot in the 3rd quarter valued at about $27,000. 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.