loanDepot, Inc. (NYSE:LDI) Sees Large Increase in Short Interest

loanDepot, Inc. (NYSE:LDI) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, an increase of 5.4% from the December 15th total of 1,680,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 884,600 shares, the days-to-cover ratio is currently 2.0 days.

Insider Buying and Selling

In other loanDepot news, Director Anthony Li Hsieh sold 146,072 shares of loanDepot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $2.52, for a total transaction of $368,101.44. Following the completion of the transaction, the director now owns 7,333,888 shares of the company’s stock, valued at $18,481,397.76. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Alexander Walsh sold 66,666 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the sale, the insider now directly owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,359,358 shares of company stock valued at $3,001,142. 83.04% of the stock is owned by insiders.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC bought a new position in shares of loanDepot in the third quarter worth approximately $27,000. Jane Street Group LLC bought a new position in loanDepot in the 3rd quarter valued at approximately $54,000. Atria Investments Inc boosted its stake in loanDepot by 41.0% during the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after purchasing an additional 6,372 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after purchasing an additional 19,655 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of loanDepot by 293.5% in the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after purchasing an additional 41,767 shares during the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Stock Down 0.8 %

Shares of LDI stock traded down $0.02 during midday trading on Monday, reaching $1.78. 748,044 shares of the stock were exchanged, compared to its average volume of 828,499. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.23. The firm has a market cap of $580.43 million, a PE ratio of -3.41, a price-to-earnings-growth ratio of 0.26 and a beta of 3.41. The company’s 50 day moving average is $2.10 and its two-hundred day moving average is $2.26. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their target price on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research report on Thursday, November 14th.

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.