loanDepot (NYSE:LDI) Trading Down 3.4% – Time to Sell?

loanDepot, Inc. (NYSE:LDI)’s share price dropped 3.4% on Thursday . The company traded as low as $1.97 and last traded at $1.97. Approximately 196,616 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 623,930 shares. The stock had previously closed at $2.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LDI shares. The Goldman Sachs Group increased their target price on loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research report on Thursday, November 14th. UBS Group upped their target price on shares of loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th.

loanDepot Stock Down 3.9 %

The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50 day moving average price is $2.22 and its 200-day moving average price is $2.25. The company has a market cap of $640.92 million, a PE ratio of -3.77 and a beta of 3.42.

Insider Buying and Selling at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the transaction, the insider now directly owns 3,938,792 shares of the company’s stock, valued at approximately $9,965,143.76. This represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Li Hsieh sold 242,355 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $2.04, for a total value of $494,404.20. Following the completion of the sale, the director now directly owns 3,154,253 shares in the company, valued at $6,434,676.12. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,620,519 shares of company stock worth $3,534,286 over the last three months. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new position in shares of loanDepot during the third quarter valued at $27,000. Jane Street Group LLC purchased a new position in loanDepot during the third quarter valued at approximately $54,000. Atria Investments Inc increased its stake in loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after buying an additional 6,372 shares in the last quarter. Verition Fund Management LLC raised its stake in loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after purchasing an additional 41,767 shares during the period. Finally, Requisite Capital Management LLC bought a new position in shares of loanDepot during the third quarter worth $164,000. 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.