loanDepot (NYSE:LDI) Sees Large Volume Increase – Still a Buy?

loanDepot, Inc. (NYSE:LDI) shares saw unusually-high trading volume on Wednesday . Approximately 1,147,130 shares were traded during mid-day trading, an increase of 76% from the previous session’s volume of 651,067 shares.The stock last traded at $1.56 and had previously closed at $1.64.

Analyst Upgrades and Downgrades

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

loanDepot Stock Down 0.9 %

The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50-day moving average price of $1.84 and a 200 day moving average price of $2.23.

Insiders Place Their Bets

In other loanDepot news, Director Anthony Li Hsieh sold 129,196 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.25, for a total value of $290,691.00. Following the completion of the transaction, the director now owns 5,347,657 shares in the company, valued at $12,032,228.25. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 891,192 shares of company stock worth $1,925,422 over the last three months. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in loanDepot in the 3rd quarter valued at about $2,180,000. Walleye Capital LLC acquired a new stake in loanDepot in the third quarter valued at approximately $897,000. Geode Capital Management LLC lifted its stake in loanDepot by 21.0% in the third quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock worth $1,968,000 after acquiring an additional 125,059 shares during the last quarter. Jane Street Group LLC acquired a new position in loanDepot during the 3rd quarter worth approximately $54,000. Finally, GSA Capital Partners LLP increased its position in shares of loanDepot by 275.6% in the 3rd quarter. GSA Capital Partners LLP now owns 167,578 shares of the company’s stock valued at $457,000 after purchasing an additional 122,957 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.