loanDepot, Inc. (NYSE:LDI) Sees Significant Drop in Short Interest

loanDepot, Inc. (NYSE:LDI - Get Free Report) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,700,000 shares, a decrease of 24.8% from the October 31st total of 2,260,000 shares. Based on an average trading volume of 867,600 shares, the short-interest ratio is currently 2.0 days. Approximately 2.4% of the shares of the company are short sold.

loanDepot Trading Down 2.2 %

Shares of NYSE:LDI traded down $0.05 during trading on Friday, reaching $2.25. 236,423 shares of the company traded hands, compared to its average volume of 601,018. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. loanDepot has a 52-week low of $1.52 and a 52-week high of $3.71. The firm has a market capitalization of $735.75 million, a price-to-earnings ratio of -4.33 and a beta of 3.46. The business's fifty day moving average is $2.36 and its 200-day moving average is $2.23.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Anthony Li Hsieh sold 83,667 shares of loanDepot stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $2.34, for a total transaction of $195,780.78. Following the completion of the sale, the director now owns 5,684,228 shares of the company's stock, valued at approximately $13,301,093.52. This trade represents a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff Alexander Walsh sold 66,666 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now directly owns 3,938,792 shares of the company's stock, valued at $9,965,143.76. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,669,223 shares of company stock worth $3,860,834 over the last 90 days. Corporate insiders own 83.04% of the company's stock.

Institutional Investors Weigh In On loanDepot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in loanDepot in the 3rd quarter worth approximately $2,180,000. Walleye Capital LLC purchased a new stake in loanDepot in the third quarter worth $897,000. Dimensional Fund Advisors LP boosted its holdings in loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company's stock valued at $328,000 after acquiring an additional 158,221 shares in the last quarter. Geode Capital Management LLC increased its position in loanDepot by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company's stock valued at $1,968,000 after purchasing an additional 125,059 shares during the period. Finally, GSA Capital Partners LLP increased its position in loanDepot by 275.6% during the 3rd quarter. GSA Capital Partners LLP now owns 167,578 shares of the company's stock valued at $457,000 after purchasing an additional 122,957 shares during the period. 39.39% of the stock is currently 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.