Wolverine Asset Management LLC Has $2.73 Million Stock Position in loanDepot, Inc. $LDI

Wolverine Asset Management LLC decreased its position in shares of loanDepot, Inc. (NYSE:LDI) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 887,784 shares of the company’s stock after selling 290,865 shares during the quarter. Wolverine Asset Management LLC’s holdings in loanDepot were worth $2,725,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. CWM LLC bought a new position in loanDepot during the third quarter worth $32,000. Citizens Financial Group Inc. RI acquired a new position in shares of loanDepot in the 3rd quarter valued at about $43,000. Voya Investment Management LLC acquired a new stake in loanDepot during the third quarter worth approximately $43,000. Los Angeles Capital Management LLC acquired a new position in loanDepot in the second quarter valued at approximately $46,000. Finally, Invesco Ltd. acquired a new stake in shares of loanDepot during the 1st quarter worth approximately $44,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Price Performance

loanDepot stock opened at $3.20 on Friday. The business’s 50 day simple moving average is $2.54 and its 200 day simple moving average is $2.53. loanDepot, Inc. has a 12 month low of $1.01 and a 12 month high of $5.05. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -8.89, a PEG ratio of 0.63 and a beta of 3.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 6.94.

loanDepot (NYSE:LDI) last issued its earnings results 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. The firm had revenue of $325.16 million during the quarter, compared to analyst estimates of $309.20 million. loanDepot had a negative net margin of 6.46% and a negative return on equity of 22.40%. Sell-side analysts forecast that loanDepot, Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

LDI has been the subject of several research analyst reports. Morgan Stanley set a $1.75 price target on shares of loanDepot in a research note on Monday, December 1st. UBS Group lifted their price target on shares of loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $2.40 target price on loanDepot in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, loanDepot currently has an average rating of “Reduce” and an average price target of $2.38.

Insider Transactions at loanDepot

In related news, CEO Anthony Li Hsieh sold 884,495 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.70, for a total transaction of $2,388,136.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 5,890,027 shares of company stock worth $15,413,757 over the last three months. 78.05% of the stock is currently owned by company insiders.

loanDepot 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.