loanDepot (NYSE:LDI) Sees Unusually-High Trading Volume - Here's What Happened

loanDepot, Inc. (NYSE:LDI - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,147,130 shares traded hands during trading, an increase of 76% from the previous session's volume of 651,067 shares.The stock last traded at $1.56 and had previously closed at $1.64.

Wall Street Analysts Forecast Growth

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

loanDepot Stock Up 2.2 %

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. The company has a market capitalization of $537.92 million, a PE ratio of -3.16, a price-to-earnings-growth ratio of 0.27 and a beta of 3.37. The business's 50-day simple moving average is $1.83 and its 200-day simple moving average is $2.23.

Insider Activity

In related news, Director Anthony Li Hsieh sold 83,667 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $2.34, for a total transaction of $195,780.78. Following the sale, the director now directly owns 5,684,228 shares in the company, valued at approximately $13,301,093.52. This 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. In the last quarter, insiders have sold 891,192 shares of company stock valued at $1,925,422. 83.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On loanDepot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atria Investments Inc raised its position in loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company's stock worth $60,000 after acquiring an additional 6,372 shares in the last quarter. LPL Financial LLC lifted its stake in shares of loanDepot by 39.3% in the 4th quarter. LPL Financial LLC now owns 40,035 shares of the company's stock valued at $82,000 after purchasing an additional 11,286 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of loanDepot by 5.0% in the 4th quarter. Empowered Funds LLC now owns 245,189 shares of the company's stock valued at $500,000 after purchasing an additional 11,647 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of loanDepot by 12.8% during the 4th quarter. American Century Companies Inc. now owns 120,232 shares of the company's stock valued at $245,000 after buying an additional 13,628 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in loanDepot during the 4th quarter worth approximately $30,000. 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.