loanDepot (NYSE:LDI) Shares Gap Down – Should You Sell?

loanDepot, Inc. (NYSE:LDI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.13, but opened at $2.05. loanDepot shares last traded at $2.15, with a volume of 178,997 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LDI. UBS Group upped their price target on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. The Goldman Sachs Group boosted their price target 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 2.3 %

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’s 50-day moving average is $2.25 and its 200 day moving average is $2.25. The firm has a market capitalization of $680.16 million, a PE ratio of -4.09 and a beta of 3.42.

Insider Activity

In related news, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the transaction, the insider now owns 4,035,317 shares of the company’s stock, valued at approximately $10,733,943.22. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony Li Hsieh sold 242,355 shares of loanDepot stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $2.04, for a total transaction of $494,404.20. Following the completion of the sale, the director now directly owns 3,154,253 shares of the company’s stock, valued at $6,434,676.12. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,657,330 shares of company stock worth $3,632,204 over the last ninety days. 83.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On loanDepot

Hedge funds have recently modified their holdings of the stock. Walleye Capital LLC purchased a new stake in shares of loanDepot during the 3rd quarter valued at $897,000. American Century Companies Inc. grew its stake in loanDepot by 27.3% during the second 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. GSA Capital Partners LLP increased its position in shares of loanDepot by 275.6% in the third quarter. GSA Capital Partners LLP now owns 167,578 shares of the company’s stock worth $457,000 after acquiring an additional 122,957 shares in the last quarter. 272 Capital LP lifted its holdings in shares of loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after acquiring an additional 94,883 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in loanDepot by 390.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after purchasing an additional 158,221 shares during the period. 39.39% of the stock is owned by institutional investors and hedge funds.

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.