loanDepot (NYSE:LDI) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

loanDepot (NYSE:LDI) posted its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06), FiscalAI reports. loanDepot had a negative net margin of 6.46% and a negative return on equity of 22.40%. The company had revenue of $316.27 million during the quarter, compared to the consensus estimate of $333.29 million.

loanDepot Price Performance

Shares of NYSE LDI traded up $0.08 during midday trading on Tuesday, reaching $1.91. The company’s stock had a trading volume of 3,696,349 shares, compared to its average volume of 3,612,437. loanDepot has a one year low of $1.01 and a one year high of $5.05. The company has a market cap of $634.82 million, a price-to-earnings ratio of -5.29, a price-to-earnings-growth ratio of 0.41 and a beta of 3.47. The company has a 50 day moving average price of $2.25 and a 200 day moving average price of $2.66. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 6.94.

Insiders Place Their Bets

In other loanDepot news, CEO Anthony Li Hsieh sold 884,495 shares of loanDepot stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $2.70, for a total value of $2,388,136.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 2,830,815 shares of company stock worth $7,182,662 in the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently modified their holdings of LDI. State Street Corp grew its holdings in shares of loanDepot by 0.4% in the 4th quarter. State Street Corp now owns 1,640,154 shares of the company’s stock worth $3,395,000 after acquiring an additional 5,800 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of loanDepot by 8.3% during the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock valued at $170,000 after purchasing an additional 6,321 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of loanDepot by 26.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock valued at $109,000 after purchasing an additional 11,003 shares during the period. Russell Investments Group Ltd. purchased a new position in loanDepot in the 3rd quarter worth about $35,000. Finally, BNP Paribas Financial Markets increased its stake in loanDepot by 179.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,420 shares of the company’s stock worth $60,000 after purchasing an additional 12,472 shares in the last quarter. Institutional investors and hedge funds own 39.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America set a $1.75 target price on loanDepot in a research report on Monday, December 1st. The Goldman Sachs Group set a $2.40 price target on loanDepot in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $2.38.

loanDepot Company Profile

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.