loanDepot (NYSE:LDI) Shares Down 3.4% – Here’s What Happened

Shares of loanDepot, Inc. (NYSE:LDI) dropped 3.4% during trading on Thursday . The company traded as low as $1.97 and last traded at $1.97. Approximately 196,616 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 623,930 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

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

loanDepot Trading Down 3.6 %

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. The company has a market capitalization of $614.76 million, a P/E ratio of -3.62 and a beta of 3.42. The business has a 50 day moving average price of $2.21 and a 200 day moving average price of $2.25.

Insider Activity

In related news, Director Anthony Li Hsieh sold 242,355 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $2.04, for a total transaction of $494,404.20. Following the completion of the transaction, the director now directly owns 3,154,253 shares in the company, valued at approximately $6,434,676.12. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now directly owns 3,938,792 shares of the company’s stock, valued at approximately $9,965,143.76. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,620,519 shares of company stock valued at $3,534,286 in the last quarter. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in loanDepot during the 3rd quarter valued at $2,180,000. Walleye Capital LLC acquired a new position in loanDepot in the 3rd quarter valued at about $897,000. American Century Companies Inc. grew its stake in loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after buying an additional 19,655 shares during the last quarter. GSA Capital Partners LLP raised its holdings in loanDepot by 275.6% in the 3rd quarter. GSA Capital Partners LLP now owns 167,578 shares of the company’s stock valued at $457,000 after acquiring an additional 122,957 shares during the period. Finally, 272 Capital LP lifted its position in loanDepot by 107.4% during the second quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after acquiring an additional 94,883 shares during the last quarter. 39.39% of the stock is currently owned by institutional investors.

loanDepot Company Profile

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.