loanDepot (NYSE:LDI) Trading 6.6% Higher – Here’s What Happened

loanDepot, Inc. (NYSE:LDI) shares were up 6.6% during trading on Monday . The stock traded as high as $1.86 and last traded at $1.86. Approximately 390,587 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 707,813 shares. The stock had previously closed at $1.74.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their target price on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research note on Thursday, November 14th.

loanDepot Trading Down 0.7 %

The firm’s 50 day moving average is $1.99 and its 200 day moving average is $2.26. 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 $571.60 million, a PE ratio of -3.36, a P/E/G ratio of 0.27 and a beta of 3.41.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction 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 sale, the insider now owns 3,938,792 shares in the company, valued at $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 available at this link. Also, Director Anthony Li Hsieh sold 255,428 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $2.11, for a total transaction of $538,953.08. Following the completion of the transaction, the director now owns 7,672,258 shares of the company’s stock, valued at $16,188,464.38. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,359,358 shares of company stock valued at $3,001,142 in the last quarter. Insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of LDI. Atria Investments Inc lifted its stake in shares of loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after purchasing an additional 6,372 shares during the period. Park Avenue Securities LLC bought a new position in loanDepot in the third quarter worth $27,000. Empowered Funds LLC lifted its position in loanDepot by 5.0% during the fourth quarter. Empowered Funds LLC now owns 245,189 shares of the company’s stock valued at $500,000 after buying an additional 11,647 shares during the period. Jane Street Group LLC bought a new stake in shares of loanDepot during the 3rd quarter valued at $54,000. Finally, American Century Companies Inc. grew its position in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after buying an additional 19,655 shares during the period. Hedge funds and other institutional investors 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.