loanDepot (NYSE:LDI) Shares Gap Down to $1.61

loanDepot, Inc. (NYSE:LDI) shares gapped down before the market opened on Friday . The stock had previously closed at $1.61, but opened at $1.56. loanDepot shares last traded at $1.59, with a volume of 18,013 shares.

Analysts Set New Price Targets

LDI has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on shares of loanDepot from $2.25 to $1.50 and set a “sell” rating for the company in a research note on Tuesday. JMP Securities restated a “market perform” rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Price Performance

The company’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $2.45. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24.

loanDepot (NYSE:LDI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The company had revenue of $222.79 million during the quarter, compared to analyst estimates of $232.65 million. loanDepot had a negative net margin of 10.26% and a negative return on equity of 19.52%. Equities analysts predict that loanDepot, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 38,504 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total value of $78,163.12. Following the transaction, the director now directly owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Anthony Li Hsieh sold 38,504 shares of loanDepot stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $2.03, for a total transaction of $78,163.12. Following the transaction, the director now directly owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank Martell acquired 36,639 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $1.77 per share, for a total transaction of $64,851.03. Following the completion of the transaction, the chief executive officer now directly owns 595,248 shares in the company, valued at approximately $1,053,588.96. The disclosure for this purchase can be found here. Insiders sold a total of 677,520 shares of company stock valued at $1,358,805 over the last quarter. Corporate insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently added to or reduced their stakes in the stock. CastleKnight Management LP bought a new stake in loanDepot in the 4th quarter valued at $1,644,000. Wolverine Asset Management LLC increased its stake in loanDepot by 58.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock valued at $3,773,000 after buying an additional 397,095 shares during the last quarter. Cannell Capital LLC increased its stake in loanDepot by 19.5% in the 3rd quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock valued at $9,282,000 after buying an additional 879,650 shares during the last quarter. Jump Financial LLC acquired a new stake in loanDepot in the 4th quarter valued at $81,000. Finally, Cullen Capital Management LLC acquired a new stake in loanDepot in the 4th quarter valued at $150,000. 39.39% of the stock is owned by institutional investors.

About loanDepot

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.