Short Interest in loanDepot, Inc. (NYSE:LDI) Increases By 20.7%

loanDepot, Inc. (NYSE:LDI) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 14,445,817 shares, an increase of 20.7% from the February 26th total of 11,972,635 shares. Based on an average daily trading volume, of 3,169,535 shares, the days-to-cover ratio is presently 4.6 days. Currently, 25.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LDI shares. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research note on Thursday, January 22nd. Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group set a $2.40 price target on shares of loanDepot in a report on Tuesday, January 6th. Finally, Bank of America set a $1.75 price target on shares of loanDepot in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $2.38.

loanDepot Stock Performance

Shares of NYSE:LDI traded up $0.07 during mid-day trading on Tuesday, reaching $1.42. The company had a trading volume of 2,008,092 shares, compared to its average volume of 3,472,685. loanDepot has a one year low of $1.01 and a one year high of $5.05. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22. The company’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.55. The firm has a market cap of $474.07 million, a price-to-earnings ratio of -4.88, a PEG ratio of 0.42 and a beta of 3.47.

loanDepot (NYSE:LDI) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). loanDepot had a negative net margin of 5.27% and a negative return on equity of 18.29%. The firm had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. As a group, equities research analysts anticipate that loanDepot will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Li Hsieh sold 884,495 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 83.04% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new stake in loanDepot in the 1st quarter valued at about $44,000. Goldman Sachs Group Inc. boosted its position in loanDepot by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock worth $436,000 after purchasing an additional 85,129 shares during the period. Jane Street Group LLC purchased a new position in shares of loanDepot in the first quarter worth about $122,000. Geode Capital Management LLC increased its stake in shares of loanDepot by 134.4% in the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after purchasing an additional 1,104,021 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of loanDepot in the second quarter valued at approximately $67,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.