loanDepot (NYSE:LDI) Stock Price Down 2.9% – Should You Sell?

loanDepot, Inc. (NYSE:LDI)’s share price traded down 2.9% during trading on Tuesday . The company traded as low as $1.83 and last traded at $1.84. 158,695 shares changed hands during trading, a decline of 74% from the average session volume of 618,484 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

A number of research firms have recently commented on LDI. The Goldman Sachs Group increased their target price on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a report on Thursday, November 14th. UBS Group boosted their price target on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, September 5th.

loanDepot Price Performance

The business has a fifty day simple moving average of $2.24 and a 200-day simple moving average of $2.25. The stock has a market capitalization of $618.03 million, a P/E ratio of -3.63 and a beta of 3.42. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16.

Insider Activity at loanDepot

In related news, Director Anthony Li Hsieh sold 242,355 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $2.04, for a total value of $494,404.20. Following the transaction, the director now directly owns 3,154,253 shares of the company’s stock, valued at approximately $6,434,676.12. The trade was a 7.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff Alexander Walsh sold 36,811 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the completion of the transaction, the insider now owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,657,330 shares of company stock valued at $3,632,204. 83.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On loanDepot

Several institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its stake in loanDepot by 6.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after acquiring an additional 57,546 shares during the last quarter. Barclays PLC purchased a new position in loanDepot in the 3rd quarter worth approximately $2,180,000. Geode Capital Management LLC increased its holdings in shares of loanDepot by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock worth $1,968,000 after buying an additional 125,059 shares during the last quarter. Walleye Capital LLC purchased a new position in loanDepot in the third quarter worth $897,000. Finally, Empowered Funds LLC raised its position in loanDepot by 5.3% during the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock valued at $638,000 after purchasing an additional 11,792 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

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.