loanDepot (NYSE:LDI) Shares Gap Down – Here’s Why

loanDepot, Inc. (NYSE:LDI) shares gapped down before the market opened 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.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lifted their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research report on Thursday, November 14th.

loanDepot Trading Down 6.1 %

The firm has a market cap of $604.95 million, a P/E ratio of -3.56 and a beta of 3.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. The business’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.25.

Insider Activity at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction 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 directly owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 444,618 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $2.11, for a total transaction of $938,143.98. Following the transaction, the director now owns 2,479,960 shares of the company’s stock, valued at approximately $5,232,715.60. The trade was a 15.20 % 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 quarter. 83.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

Hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC grew its stake in shares of loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock valued at $1,683,000 after buying an additional 57,546 shares in the last quarter. American Century Companies Inc. increased its stake in shares of loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after buying an additional 19,655 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 158,221 shares during the period. 272 Capital LP increased its stake in 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 purchasing an additional 94,883 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of loanDepot in the 3rd quarter worth $27,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.