loanDepot (NYSE:LDI) Sees Strong Trading Volume – Still a Buy?

loanDepot, Inc. (NYSE:LDI) saw unusually-strong trading volume on Wednesday . Approximately 1,179,848 shares changed hands during trading, an increase of 107% from the previous session’s volume of 570,540 shares.The stock last traded at $2.29 and had previously closed at $2.15.

Analyst Ratings Changes

LDI has been the topic of several research reports. UBS Group raised their price objective on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lifted their price objective on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a report on Thursday, August 8th.

loanDepot Stock Up 19.8 %

The stock has a 50 day moving average price of $2.43 and a 200 day moving average price of $2.21. The company has a market cap of $837.26 million, a P/E ratio of -4.15 and a beta of 3.46. The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. The company had revenue of $265.39 million during the quarter, compared to analyst estimates of $267.66 million. Research analysts expect that loanDepot, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other loanDepot news, Director Anthony Li Hsieh sold 268,689 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.88, for a total value of $773,824.32. Following the transaction, the director now owns 3,510,957 shares of the company’s stock, valued at approximately $10,111,556.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Anthony Li Hsieh sold 268,689 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.88, for a total value of $773,824.32. Following the completion of the transaction, the director now owns 3,510,957 shares in the company, valued at $10,111,556.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the company’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 sale, the insider now directly owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,751,459 shares of company stock worth $7,115,755. Corporate insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its position in shares of loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after buying an additional 57,546 shares during the period. Empowered Funds LLC increased its holdings in shares of loanDepot by 5.3% in the 3rd 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 during the period. DC Investments Management LLC purchased a new stake in shares of loanDepot in the first quarter worth approximately $559,000. Dimensional Fund Advisors LP lifted its position in shares of loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after purchasing an additional 158,221 shares in the last quarter. Finally, 272 Capital LP boosted its holdings in shares of loanDepot by 107.4% during the second quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after purchasing an additional 94,883 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.