loanDepot (NYSE:LDI) Posts Earnings Results, Beats Expectations By $0.02 EPS

loanDepot (NYSE:LDI) announced its quarterly earnings data on Thursday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports. The business had revenue of $325.16 million for the quarter, compared to analyst estimates of $309.20 million. loanDepot had a negative net margin of 5.95% and a negative return on equity of 19.41%.

loanDepot Stock Performance

LDI traded up $0.09 during trading hours on Friday, reaching $2.74. The company’s stock had a trading volume of 5,348,680 shares, compared to its average volume of 3,638,429. The company’s 50-day moving average is $3.20 and its 200-day moving average is $2.07. loanDepot has a 52 week low of $1.01 and a 52 week high of $5.05. The firm has a market cap of $905.09 million, a PE ratio of -8.29 and a beta of 3.45. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. UBS Group raised their price objective on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a report on Friday, October 10th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. The Goldman Sachs Group raised their price target on loanDepot from $1.45 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Li Hsieh sold 3,046,005 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $2.64, for a total value of $8,041,453.20. Following the transaction, the chief executive officer directly owned 4,693,712 shares in the company, valued at $12,391,399.68. The trade was a 39.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 14,587,748 shares of company stock worth $41,685,046 over the last three months. Insiders own 78.05% of the company’s stock.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of LDI. Invesco Ltd. bought a new stake in shares of loanDepot during the 1st quarter worth approximately $44,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in loanDepot during the second quarter valued at approximately $57,000. New York State Common Retirement Fund bought a new stake in loanDepot during the second quarter worth $98,000. Cerity Partners LLC acquired a new stake in shares of loanDepot in the 2nd quarter valued at $116,000. Finally, Jane Street Group LLC acquired a new stake in shares of loanDepot in the 1st quarter valued at $122,000. Institutional investors own 39.39% 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.