Wolverine Asset Management LLC Purchases 397,095 Shares of loanDepot, Inc. (NYSE:LDI)

Wolverine Asset Management LLC increased its stake in shares of loanDepot, Inc. (NYSE:LDI) by 58.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,071,927 shares of the company’s stock after acquiring an additional 397,095 shares during the period. Wolverine Asset Management LLC’s holdings in loanDepot were worth $3,773,000 as of its most recent filing with the SEC.

Separately, Knightsbridge Asset Management LLC boosted its position in loanDepot by 6.6% during the third quarter. Knightsbridge Asset Management LLC now owns 2,800,039 shares of the company’s stock valued at $4,816,000 after purchasing an additional 172,802 shares during the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group dropped their price objective on loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Wednesday, March 13th.

loanDepot Stock Performance

Shares of NYSE LDI traded down $0.07 during trading hours on Wednesday, reaching $2.35. 282,789 shares of the stock were exchanged, compared to its average volume of 448,594. The firm has a market capitalization of $759.26 million, a price-to-earnings ratio of -3.84 and a beta of 3.13. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.23 and a current ratio of 1.23. loanDepot, Inc. has a 52 week low of $1.14 and a 52 week high of $3.71. The stock’s fifty day simple moving average is $2.50 and its 200 day simple moving average is $2.35.

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

Insider Buying and Selling at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 39,284 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,400,803.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Dan Binowitz sold 13,900 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,832,807.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff Alexander Walsh sold 39,284 shares of the firm’s stock in a transaction on 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 directly owns 3,954,678 shares in the company, valued at approximately $10,400,803.14. The disclosure for this sale can be found here. Company insiders own 83.88% 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.