loanDepot (NYSE:LDI) Trading 10.3% Higher – Here’s Why

loanDepot, Inc. (NYSE:LDI) shares shot up 10.3% during mid-day trading on Friday . The stock traded as high as $3.04 and last traded at $2.9450. 2,128,680 shares were traded during mid-day trading, a decline of 58% from the average session volume of 5,127,557 shares. The stock had previously closed at $2.67.

Analyst Ratings Changes

A number of research firms have recently issued reports on LDI. The Goldman Sachs Group set a $2.40 price objective on shares of loanDepot in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. Morgan Stanley set a $1.75 price target on shares of loanDepot in a research note on Monday, December 1st. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, 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. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $2.38.

loanDepot Stock Up 20.4%

The firm’s fifty day moving average is $2.53 and its 200 day moving average is $2.52. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $1.07 billion, a P/E ratio of -8.96, a P/E/G ratio of 0.61 and a beta of 3.47.

loanDepot (NYSE:LDI) last announced its earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $309.20 million. As a group, equities research analysts anticipate that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at loanDepot

In other loanDepot news, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the firm’s 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 completion of the transaction, the executive owned 1,074,695 shares in the company, valued at approximately $3,234,831.95. This trade represents a 18.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Li Hsieh sold 1,121,499 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $2.50, for a total transaction of $2,803,747.50. Following the sale, the chief executive officer directly owned 178,501 shares in the company, valued at $446,252.50. This trade represents a 86.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,590,027 shares of company stock worth $11,920,377. Company insiders own 78.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised 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 worth $17,255,000 after purchasing an additional 4,842,751 shares during the period. UBS Group AG grew its position in shares of loanDepot by 1,125.1% during 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 in the last quarter. Geode Capital Management LLC increased its stake in loanDepot by 134.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after acquiring an additional 1,104,021 shares during the last quarter. Squarepoint Ops LLC lifted 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 purchasing an additional 652,348 shares during the last quarter. Finally, Continental Advisors LLC purchased a new position in loanDepot in the second quarter worth $656,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

About loanDepot

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.