Insider Selling: loanDepot, Inc. (NYSE:LDI) CFO Sells 79,408 Shares of Stock

loanDepot, Inc. (NYSE:LDI – Get Rating) CFO Patrick J. Flanagan sold 79,408 shares of loanDepot stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $1.49, for a total transaction of $118,317.92. Following the transaction, the chief financial officer now owns 940,756 shares of the company’s stock, valued at $1,401,726.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NYSE LDI traded up $0.02 during midday trading on Thursday, hitting $1.48. The company’s stock had a trading volume of 1,156,601 shares, compared to its average volume of 1,004,414. The stock has a fifty day moving average price of $2.67 and a 200 day moving average price of $3.77. loanDepot, Inc. has a one year low of $1.41 and a one year high of $13.35. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $461.34 million, a price-to-earnings ratio of 5.48 and a beta of 1.21.

loanDepot (NYSE:LDI – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.29). loanDepot had a net margin of 1.16% and a return on equity of 9.56%. The business had revenue of $503.31 million during the quarter, compared to the consensus estimate of $686.33 million. During the same period last year, the firm earned $0.98 EPS. On average, equities research analysts predict that loanDepot, Inc. will post -0.66 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on LDI shares. Credit Suisse Group reduced their price objective on shares of loanDepot to $5.50 and set a “neutral” rating for the company in a report on Thursday, May 19th. Piper Sandler cut shares of loanDepot from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $6.00 to $3.50 in a report on Wednesday, May 11th. Barclays reduced their price objective on shares of loanDepot from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Citigroup cut shares of loanDepot from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $5.00 to $2.00 in a report on Wednesday, May 11th. Finally, The Goldman Sachs Group cut their price target on shares of loanDepot from $4.80 to $3.90 and set a “neutral” rating on the stock in a report on Monday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, loanDepot currently has a consensus rating of “Hold” and a consensus price target of $7.04.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. G2 Investment Partners Management LLC bought a new stake in shares of loanDepot in the first quarter valued at approximately $708,000. State Street Corp increased its holdings in loanDepot by 10.0% during the 1st quarter. State Street Corp now owns 664,348 shares of the company’s stock worth $2,757,000 after acquiring an additional 60,638 shares during the period. Vanguard Group Inc. increased its holdings in loanDepot by 61.8% during the 1st quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock worth $10,047,000 after acquiring an additional 925,002 shares during the period. Capstone Financial Advisors Inc. increased its holdings in loanDepot by 66.7% during the 1st quarter. Capstone Financial Advisors Inc. now owns 25,000 shares of the company’s stock worth $104,000 after acquiring an additional 10,000 shares during the period. Finally, HST Ventures LLC increased its holdings in loanDepot by 88.1% during the 1st quarter. HST Ventures LLC now owns 411,082 shares of the company’s stock worth $1,706,000 after acquiring an additional 192,494 shares during the period. 4.12% of the stock is currently owned by institutional investors.

loanDepot Company Profile (Get Rating)

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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.

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