loanDepot (NYSE:LDI) Sees Large Volume Increase – Time to Buy?

Shares of loanDepot, Inc. (NYSE:LDI) saw strong trading volume on Wednesday . 1,356,103 shares traded hands during mid-day trading, an increase of 138% from the previous session’s volume of 569,171 shares.The stock last traded at $2.05 and had previously closed at $2.11.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group upped their price target on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their price target on loanDepot from $1.50 to $1.70 and gave the company a “sell” rating in a research report on Thursday, August 8th.

loanDepot Price Performance

The company has a market capitalization of $676.31 million, a price-to-earnings ratio of -3.35 and a beta of 3.43. The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day moving average price of $2.55 and a 200-day moving average price of $2.23.

loanDepot (NYSE:LDI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. The business had revenue of $265.39 million for the quarter, compared to the consensus estimate of $267.66 million. Research analysts predict that loanDepot, Inc. will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 18,806 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.06, for a total transaction of $38,740.36. Following the transaction, the director now directly owns 2,927,686 shares of the company’s stock, valued at approximately $6,031,033.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Anthony Li Hsieh sold 18,806 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.06, for a total value of $38,740.36. Following the completion of the sale, the director now directly owns 2,927,686 shares of the company’s stock, valued at $6,031,033.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total value of $97,917.26. Following the completion of the sale, the insider now directly owns 4,035,317 shares of the company’s stock, valued at approximately $10,733,943.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,496,031 shares of company stock valued at $6,576,802. 83.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On loanDepot

Several institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC bought a new position in loanDepot during the third quarter valued at $27,000. American Century Companies Inc. grew its holdings in loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after purchasing an additional 19,655 shares during the period. Requisite Capital Management LLC bought a new position in shares of loanDepot in the third quarter worth $164,000. ERn Financial LLC bought a new position in shares of loanDepot in the third quarter worth $248,000. Finally, Cetera Advisors LLC boosted its holdings in shares of loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after acquiring an additional 45,173 shares during the period. 39.39% of the stock is owned by institutional investors.

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.