loanDepot (NYSE:LDI) Shares Gap Up – Time to Buy?

loanDepot, Inc. (NYSE:LDI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $2.44, but opened at $2.81. loanDepot shares last traded at $2.9250, with a volume of 3,198,511 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on LDI. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research note on Wednesday, October 8th. UBS Group raised their price objective on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Morgan Stanley set a $1.75 target price on loanDepot in a report on Monday, December 1st. Finally, The Goldman Sachs Group set a $2.40 target price on loanDepot in a research note on Tuesday. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $2.38.

loanDepot Stock Up 20.7%

The stock has a market cap of $981.38 million, a PE ratio of -8.15, a PEG ratio of 0.56 and a beta of 3.47. The company has a debt-to-equity ratio of 6.94, a current ratio of 1.19 and a quick ratio of 1.19. The company has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $2.47.

loanDepot (NYSE:LDI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $325.16 million during the quarter, compared to the consensus estimate of $309.20 million. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%. Analysts expect that loanDepot, Inc. will post -0.23 EPS for the current year.

Insider Activity at loanDepot

In related news, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $3.01, for a total transaction of $752,500.00. Following the transaction, the executive owned 1,074,695 shares in the company, valued at $3,234,831.95. This represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Li Hsieh sold 1,300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $2.87, for a total transaction of $3,731,000.00. The SEC filing for this sale provides additional information. Insiders have sold 5,890,027 shares of company stock valued at $15,651,377 over the last three months. 78.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after purchasing an additional 4,842,751 shares during the period. 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 worth $6,201,000 after purchasing an additional 1,855,136 shares during the period. Geode Capital Management LLC boosted its holdings in shares of loanDepot by 134.4% in 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 during the last quarter. Squarepoint Ops LLC grew its position in loanDepot by 1,264.5% during the third quarter. Squarepoint Ops LLC now owns 703,939 shares of the company’s stock valued at $2,161,000 after buying an additional 652,348 shares during the period. Finally, Continental Advisors LLC purchased a new stake in loanDepot during the second quarter valued at approximately $656,000. Institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.