loanDepot (NYSE:LDI) Trading Down 6.8% After Insider Selling

loanDepot, Inc. (NYSE:LDI)’s share price fell 6.8% during trading on Friday after an insider sold shares in the company. The company traded as low as $2.45 and last traded at $2.46. 385,003 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 542,799 shares. The stock had previously closed at $2.64.

Specifically, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total value of $97,917.26. Following the completion of the transaction, the insider now owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LDI shares. UBS Group raised their price target on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. JMP Securities restated a “market perform” rating on shares of loanDepot in a research report on Friday, June 21st. Finally, The Goldman Sachs Group upped their price target on shares of loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research report on Thursday, August 8th.

loanDepot Stock Performance

The stock’s 50 day moving average price is $2.58 and its two-hundred day moving average price is $2.27. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.69. The firm has a market capitalization of $783.09 million, a price-to-earnings ratio of -4.25 and a beta of 3.43.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. The business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. On average, analysts forecast that loanDepot, Inc. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC raised 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 purchasing an additional 57,546 shares during the last quarter. CastleKnight Management LP acquired a new position in shares of loanDepot in the fourth quarter worth $1,644,000. G2 Investment Partners Management LLC purchased a new stake in shares of loanDepot in the fourth quarter valued at $792,000. DC Investments Management LLC acquired a new stake in shares of loanDepot during the first quarter valued at $559,000. Finally, Empowered Funds LLC increased its position in loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after purchasing an additional 15,565 shares in the last quarter. 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.