Insider Buying: loanDepot (NYSE:LDI) CEO Acquires $253,070.61 in Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh purchased 284,349 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $0.89 per share, for a total transaction of $253,070.61. Following the acquisition, the chief executive officer owned 755,815 shares of the company’s stock, valued at approximately $672,675.35. This represents a 60.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Anthony Li Hsieh also recently made the following trade(s):

• On Thursday, August 27th, Anthony Li Hsieh acquired 38,612 shares of loanDepot stock. The stock was purchased at an average cost of $0.94 per share, with a total value of $36,295.28.
• On Tuesday, August 25th, Anthony Li Hsieh acquired 364,367 shares of loanDepot stock. The shares were purchased at an average price of $0.92 per share, with a total value of $335,217.64.
• On Monday, August 24th, Anthony Li Hsieh bought 107,099 shares of loanDepot stock. The shares were purchased at an average cost of $0.89 per share, for a total transaction of $95,318.11.

loanDepot Price Performance

Shares of NYSE:LDI opened at $0.96 on Friday. loanDepot, Inc. has a twelve month low of $0.83 and a twelve month high of $5.05. The stock’s 50 day moving average is $1.04 and its 200-day moving average is $1.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.60. The firm has a market capitalization of $323.97 million, a price-to-earnings ratio of -3.20 and a beta of 3.37.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of loanDepot by 622.6% in the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after purchasing an additional 4,842,751 shares during the last quarter. UBS Group AG grew its position in loanDepot by 1,125.1% in the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,855,136 shares in the last quarter. Wasatch Advisors LP bought a new stake in loanDepot in the 4th quarter worth about $3,229,000. Geode Capital Management LLC increased its stake in loanDepot by 134.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after buying an additional 1,104,021 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in loanDepot in the 1st quarter valued at about $1,318,000. 39.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LDI has been the topic of a number of recent research reports. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Zacks Research lowered shares of loanDepot from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and an average target price of $1.92.

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.