loanDepot (NYSE:LDI) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

loanDepot (NYSE:LDI) announced its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.24), Zacks reports. loanDepot had a negative net margin of 8.95% and a negative return on equity of 14.66%.

loanDepot Trading Down 5.6 %

Shares of NYSE LDI traded down $0.10 during midday trading on Tuesday, hitting $1.61. 1,777,486 shares of the company traded hands, compared to its average volume of 674,439. loanDepot has a 12-month low of $1.34 and a 12-month high of $3.23. The firm has a market cap of $524.84 million, a P/E ratio of -3.09, a P/E/G ratio of 0.25 and a beta of 3.36. The stock has a 50-day moving average price of $1.71 and a 200 day moving average price of $2.14. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16.

Insiders Place Their Bets

In other news, Director Anthony Li Hsieh sold 126,927 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $2.12, for a total value of $269,085.24. Following the completion of the transaction, the director now owns 3,299,094 shares of the company’s stock, valued at approximately $6,994,079.28. This represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 83.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their target price on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research note on Thursday, November 14th.

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.