Insider Buying: loanDepot (NYSE:LDI) CEO Buys $136,643.10 in Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh bought 145,365 shares of the company’s stock in a transaction on Monday, August 31st. The shares were bought at an average price of $0.94 per share, with a total value of $136,643.10. Following the completion of the transaction, the chief executive officer owned 939,792 shares of the company’s stock, valued at $883,404.48. The trade was a 18.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 1st, Anthony Li Hsieh purchased 60,208 shares of loanDepot stock. The stock was bought at an average cost of $0.92 per share, for a total transaction of $55,391.36.
• On Thursday, August 27th, Anthony Li Hsieh acquired 38,612 shares of loanDepot stock. The shares were bought at an average price of $0.94 per share, for a total transaction of $36,295.28.
• On Wednesday, August 26th, Anthony Li Hsieh acquired 284,349 shares of loanDepot stock. The shares were bought at an average cost of $0.89 per share, with a total value of $253,070.61.
• On Tuesday, August 25th, Anthony Li Hsieh acquired 364,367 shares of loanDepot stock. The shares were bought at an average cost 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 stock was bought at an average price of $0.89 per share, with a total value of $95,318.11.

loanDepot Price Performance

NYSE LDI traded up $0.02 during trading hours on Wednesday, reaching $0.91. 3,510,881 shares of the stock traded hands, compared to its average volume of 2,650,787. The stock has a 50 day simple moving average of $1.03 and a two-hundred day simple moving average of $1.33. loanDepot, Inc. has a 1 year low of $0.83 and a 1 year high of $5.05. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $306.07 million, a price-to-earnings ratio of -3.02 and a beta of 3.40.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in 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 acquiring an additional 4,842,751 shares in the last quarter. UBS Group AG boosted its stake in shares of loanDepot by 1,125.1% during the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,855,136 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of loanDepot during the fourth quarter valued at about $3,229,000. Geode Capital Management LLC raised its stake in 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 buying an additional 1,104,021 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in loanDepot in the first quarter worth about $1,318,000. Institutional investors own 39.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Zacks Research downgraded shares of loanDepot from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, loanDepot currently has a consensus rating of “Strong Sell” and an average price target of $1.92.

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.