loanDepot (NYSE:LDI) Shares Down 3% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI) shares fell 3% during mid-day trading on Thursday . The company traded as low as $1.27 and last traded at $1.28. 548,795 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 903,688 shares. The stock had previously closed at $1.32.

Analysts Set New Price Targets

Separately, UBS Group lowered their price objective on loanDepot from $1.35 to $1.25 and set a “neutral” rating for the company in a research report on Wednesday, April 16th.

loanDepot Price Performance

The firm has a market cap of $422.28 million, a P/E ratio of -2.84 and a beta of 3.33. The company has a debt-to-equity ratio of 6.48, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50 day moving average is $1.26 and its 200 day moving average is $1.46.

loanDepot (NYSE:LDI) last released its earnings results on Tuesday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $273.62 million for the quarter, compared to analysts’ expectations of $275.11 million. loanDepot had a negative net margin of 7.74% and a negative return on equity of 18.41%. As a group, analysts anticipate that loanDepot, Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Philosophy Capital Management LLC boosted its holdings in loanDepot by 73.3% in the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after acquiring an additional 1,751,245 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of loanDepot in the 1st quarter worth about $1,469,000. Cannell & Spears LLC raised its position in shares of loanDepot by 301.3% in the 4th quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company’s stock worth $2,640,000 after purchasing an additional 971,700 shares during the last quarter. Tidal Investments LLC bought a new position in loanDepot in the 4th quarter worth about $1,691,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in loanDepot by 1,671.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company’s stock worth $780,000 after purchasing an additional 618,153 shares in the last quarter. 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.