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

loanDepot, Inc. (NYSE:LDI - Get Free Report) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 1,430,000 shares, a decline of 15.9% from the November 15th total of 1,700,000 shares. Based on an average daily trading volume, of 866,100 shares, the short-interest ratio is presently 1.7 days. Approximately 2.0% of the shares of the stock are sold short.

loanDepot Stock Down 1.4 %

NYSE:LDI traded down $0.03 during trading hours on Friday, hitting $2.07. 946,110 shares of the stock traded hands, compared to its average volume of 610,184. The firm has a market cap of $676.89 million, a price-to-earnings ratio of -3.98 and a beta of 3.42. The firm has a 50 day moving average price of $2.26 and a 200 day moving average price of $2.25. 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 fifty-two week low of $1.52 and a fifty-two week high of $3.71.

Wall Street Analysts Forecast Growth

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

Insider Transactions at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now owns 3,938,792 shares in the company, valued at approximately $9,965,143.76. The trade was a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anthony Li Hsieh sold 255,428 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $2.11, for a total value of $538,953.08. Following the sale, the director now owns 7,672,258 shares of the company's stock, valued at $16,188,464.38. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,085,785 shares of company stock valued at $2,424,974. Corporate insiders own 83.04% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 125,059 shares during the period. Barclays PLC purchased a new stake in shares of loanDepot during the third quarter worth $2,180,000. Jane Street Group LLC acquired a new stake in loanDepot during the third quarter valued at $54,000. Quadrature Capital Ltd grew its stake in loanDepot by 153.8% in the third quarter. Quadrature Capital Ltd now owns 84,531 shares of the company's stock valued at $230,000 after purchasing an additional 51,231 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company's stock worth $153,000 after purchasing an additional 41,767 shares during the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

loanDepot Company Profile

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.