loanDepot (NYSE:LDI) Shares Up 3%

loanDepot, Inc. (NYSE:LDI)’s share price shot up 3% during trading on Friday . The company traded as high as $2.43 and last traded at $2.39. 43,711 shares were traded during trading, a decline of 90% from the average session volume of 457,606 shares. The stock had previously closed at $2.32.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their price target on loanDepot from $3.00 to $2.50 and set a “sell” rating for the company in a report on Wednesday, March 13th.

loanDepot Price Performance

The firm has a market cap of $756.03 million, a P/E ratio of -3.68 and a beta of 3.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 4.24. The business has a 50-day moving average of $2.51 and a two-hundred day moving average of $2.32.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). loanDepot had a negative net margin of 11.31% and a negative return on equity of 20.63%. The company had revenue of $228.63 million during the quarter, compared to the consensus estimate of $239.40 million. On average, sell-side analysts anticipate that loanDepot, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 39,284 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $2.63, for a total value of $103,316.92. Following the sale, the insider now owns 3,954,678 shares in the company, valued at approximately $10,400,803.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Dan Binowitz sold 13,900 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total transaction of $32,526.00. Following the sale, the director now owns 783,251 shares in the company, valued at approximately $1,832,807.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 39,284 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $2.63, for a total value of $103,316.92. Following the sale, the insider now owns 3,954,678 shares in the company, valued at approximately $10,400,803.14. The disclosure for this sale can be found here. Corporate insiders own 83.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of loanDepot by 61.8% in the first quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock worth $10,047,000 after purchasing an additional 925,002 shares during the last quarter. Cannell Capital LLC raised its stake in shares of loanDepot by 19.5% in the third quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock worth $9,282,000 after purchasing an additional 879,650 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of loanDepot by 208.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,103,009 shares of the company’s stock worth $3,883,000 after purchasing an additional 744,978 shares during the last quarter. CastleKnight Management LP purchased a new stake in shares of loanDepot in the fourth quarter worth approximately $1,644,000. Finally, Wolverine Asset Management LLC raised its stake in shares of loanDepot by 58.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock worth $3,773,000 after purchasing an additional 397,095 shares during the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

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.