Insider Buying: loanDepot (NYSE:LDI) CEO Purchases 284,349 Shares of Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh bought 284,349 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average cost of $0.89 per share, for a total transaction of $253,070.61. Following the completion of the transaction, the chief executive officer owned 755,815 shares in the company, valued at approximately $672,675.35. The trade was a 60.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Anthony Li Hsieh also recently made the following trade(s):

• On Thursday, August 27th, Anthony Li Hsieh purchased 38,612 shares of loanDepot stock. The shares were purchased at an average price of $0.94 per share, with a total value of $36,295.28.
• On Tuesday, August 25th, Anthony Li Hsieh purchased 364,367 shares of loanDepot stock. The stock was purchased at an average cost of $0.92 per share, with a total value of $335,217.64.
• On Monday, August 24th, Anthony Li Hsieh acquired 107,099 shares of loanDepot stock. The stock was purchased at an average price of $0.89 per share, for a total transaction of $95,318.11.

loanDepot Stock Up 10.3%

LDI traded up $0.09 during midday trading on Thursday, hitting $0.97. 9,039,221 shares of the company’s stock traded hands, compared to its average volume of 2,622,378. The company has a market cap of $328.70 million, a PE ratio of -3.24 and a beta of 3.37. The stock’s fifty day simple moving average is $1.05 and its 200-day simple moving average is $1.37. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. loanDepot, Inc. has a one year low of $0.83 and a one year high of $5.05.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a report on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, Zacks Research upgraded loanDepot from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, loanDepot presently has a consensus rating of “Reduce” and a consensus price target of $1.92.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in loanDepot by 192.4% in the 1st quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock valued at $1,164,000 after buying an additional 539,452 shares during the last quarter. Wasatch Advisors LP lifted its position in loanDepot by 36.2% during the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock worth $2,870,000 after acquiring an additional 609,893 shares during the last quarter. Lazard Asset Management LLC bought a new stake in loanDepot during the first quarter valued at about $1,318,000. GSA Capital Partners LLP boosted its holdings in loanDepot by 2,266.6% during the fourth quarter. GSA Capital Partners LLP now owns 503,499 shares of the company’s stock valued at $1,042,000 after acquiring an additional 482,224 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of loanDepot in the fourth quarter valued at about $81,000. Institutional investors and hedge funds 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.