loanDepot, Inc. (NYSE:LDI - Get Free Report)'s stock price was down 2.8% on Thursday following insider selling activity. The company traded as low as $2.72 and last traded at $2.77. Approximately 92,102 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 499,572 shares. The stock had previously closed at $2.85.
Specifically, Director Anthony Li Hsieh sold 639,186 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the completion of the transaction, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeff Alexander Walsh sold 50,000 shares of the company's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total value of $142,500.00. Following the sale, the insider now owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
Several research firms have weighed in on LDI. The Goldman Sachs Group upped their price objective on loanDepot from $1.50 to $1.70 and gave the stock a "sell" rating in a research note on Thursday, August 8th. JMP Securities reaffirmed a "market perform" rating on shares of loanDepot in a research report on Friday, June 21st.
Check Out Our Latest Stock Report on loanDepot
loanDepot Trading Down 8.2 %
The company has a debt-to-equity ratio of 4.80, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day simple moving average of $2.12 and a two-hundred day simple moving average of $2.24. The stock has a market cap of $846.19 million, a price-to-earnings ratio of -4.61 and a beta of 3.40.
loanDepot (NYSE:LDI - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. The company had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. Equities analysts forecast that loanDepot, Inc. will post -0.22 EPS for the current fiscal year.
Hedge Funds Weigh In On loanDepot
Several large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings 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 during the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 in the last quarter. Jump Financial LLC bought a new stake in shares of loanDepot in the fourth quarter valued at about $81,000. Counterpoint Mutual Funds LLC acquired a new position in shares of loanDepot in the fourth quarter valued at about $106,000. Finally, Cullen Capital Management LLC bought a new position in loanDepot during the fourth quarter worth about $150,000. 39.39% of the stock is owned by institutional investors.
About loanDepot
(Get Free Report)
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.
See Also
- Five stocks we like better than loanDepot
- There Are Different Types of Stock To Invest In
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Best Buy Stock Flashes Bullish Signal, Challenges Remain
- Investing in Construction Stocks
- Affirm Shows Buy-Now-Pay-Later Is Here to Stay in Latest Results
→ FREE Daily Profits Live Open House (From Monument Traders Alliance) (Ad)
Should you invest $1,000 in loanDepot right now?
Before you consider loanDepot, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and loanDepot wasn't on the list.
While loanDepot currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The 10 Best AI Stocks to Own in 2024
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
