loanDepot (NYSE:LDI) Shares Gap Down – Here’s What Happened

Shares of loanDepot, Inc. (NYSE:LDI) gapped down before the market opened on Tuesday . The stock had previously closed at $3.20, but opened at $2.91. loanDepot shares last traded at $2.8010, with a volume of 1,574,578 shares.

Wall Street Analyst Weigh In

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

loanDepot Stock Performance

The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $921.41 million, a P/E ratio of -7.68, a P/E/G ratio of 0.75 and a beta of 3.47. The company’s 50 day moving average is $2.54 and its 200 day moving average is $2.56.

loanDepot (NYSE:LDI) last issued its quarterly 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. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%.The firm had revenue of $325.16 million during the quarter, compared to the consensus estimate of $309.20 million. As a group, equities analysts predict that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $3.01, for a total value of $752,500.00. Following the completion of the transaction, the executive directly owned 1,074,695 shares in the company, valued at approximately $3,234,831.95. The trade was a 18.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Li Hsieh sold 1,121,499 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $2.50, for a total transaction of $2,803,747.50. Following the completion of the sale, the chief executive officer directly owned 178,501 shares of the company’s stock, valued at $446,252.50. This trade represents a 86.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,890,027 shares of company stock valued at $15,413,757 over the last three months. Insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of loanDepot by 8,934.0% in the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after purchasing an additional 8,934 shares during the period. Traynor Capital Management Inc. bought a new position in shares of loanDepot during the 3rd quarter valued at approximately $31,000. CWM LLC bought a new stake in loanDepot in the third quarter worth about $32,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of loanDepot during the third quarter valued at $31,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of loanDepot during the third quarter valued at $35,000. Hedge funds and other institutional investors 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.