loanDepot, Inc. (NYSE:LDI) Sees Significant Drop in Short Interest

loanDepot, Inc. (NYSE:LDI) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,190,000 shares, a drop of 17.0% from the March 15th total of 2,640,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 3.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price target on loanDepot from $1.35 to $1.25 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th.

loanDepot Stock Down 0.5 %

LDI stock traded down $0.01 on Monday, reaching $1.10. 488,548 shares of the company traded hands, compared to its average volume of 793,623. The firm has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.83. The company has a market cap of $359.47 million, a P/E ratio of -2.11, a price-to-earnings-growth ratio of 0.25 and a beta of 3.38. loanDepot has a one year low of $1.01 and a one year high of $3.23. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cannell & Spears LLC raised its position in loanDepot by 301.3% in the 4th quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company’s stock worth $2,640,000 after buying an additional 971,700 shares during the last quarter. Tidal Investments LLC bought a new position in shares of loanDepot in the 4th quarter worth approximately $1,691,000. Barclays PLC bought a new stake in loanDepot during the third quarter valued at approximately $2,180,000. Millennium Management LLC increased its holdings in loanDepot by 167.1% during the fourth quarter. Millennium Management LLC now owns 650,987 shares of the company’s stock valued at $1,328,000 after buying an additional 407,299 shares during the last quarter. Finally, Marshall Wace LLP raised its position in loanDepot by 132.2% in the fourth quarter. Marshall Wace LLP now owns 465,297 shares of the company’s stock worth $949,000 after acquiring an additional 264,928 shares during the period. 39.39% of the stock is owned by hedge funds and other institutional investors.

About loanDepot

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.