Insider Selling: loanDepot (NYSE:LDI) Director Sells 30,624 Shares of Stock

loanDepot, Inc. (NYSE:LDI) Director Dawn Lepore sold 30,624 shares of loanDepot stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $2.89, for a total transaction of $88,503.36. Following the sale, the director directly owned 168,542 shares of the company’s stock, valued at $487,086.38. This represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

loanDepot Stock Down 3.2%

Shares of LDI traded down $0.09 during midday trading on Friday, reaching $2.54. 5,153,910 shares of the stock were exchanged, compared to its average volume of 3,665,767. The company has a market capitalization of $838.91 million, a P/E ratio of -7.04 and a beta of 3.45. The company has a current ratio of 1.19, a quick ratio of 1.18 and a debt-to-equity ratio of 6.94. loanDepot, Inc. has a 52 week low of $1.01 and a 52 week high of $5.05. The company’s 50 day moving average is $3.26 and its two-hundred day moving average is $2.13.

loanDepot (NYSE:LDI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. loanDepot had a negative net margin of 6.46% and a negative return on equity of 22.40%. The company had revenue of $325.16 million during the quarter, compared to analyst estimates of $309.20 million. On average, sell-side analysts anticipate that loanDepot, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LDI shares. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. The Goldman Sachs Group increased their target price on shares of loanDepot from $1.45 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of loanDepot in a research note on Wednesday, September 10th. Finally, UBS Group raised their price target on loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, loanDepot currently has a consensus rating of “Reduce” and an average target price of $3.00.

Institutional Trading of loanDepot

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in loanDepot by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after purchasing an additional 226,347 shares during the period. Philosophy Capital Management LLC boosted its position in loanDepot by 73.3% in the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after purchasing an additional 1,751,245 shares in the last quarter. Knightsbridge Asset Management LLC increased its holdings in shares of loanDepot by 0.6% during the 1st quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company’s stock valued at $3,696,000 after purchasing an additional 17,763 shares in the last quarter. UBS Group AG lifted its stake in shares of loanDepot by 1,125.1% in the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,855,136 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in loanDepot by 134.4% during the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after buying an additional 1,104,021 shares in the last quarter. Institutional investors and hedge funds 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.