loanDepot (NYSE:LDI) Shares Down 3.4% - Here's What Happened

loanDepot, Inc. (NYSE:LDI - Get Free Report)'s stock price dropped 3.4% during trading on Thursday . The stock traded as low as $1.97 and last traded at $1.97. Approximately 196,616 shares changed hands 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 Analyst Weigh In

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

loanDepot Stock Performance

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 company has a market cap of $637.65 million, a price-to-earnings ratio of -3.75 and a beta of 3.42. The firm's 50-day moving average price is $2.22 and its 200 day moving average price is $2.25.

Insider Transactions at loanDepot

In related news, insider Jeff Alexander Walsh sold 66,666 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony Li Hsieh sold 444,618 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $2.11, for a total transaction of $938,143.98. Following the sale, the director now owns 2,479,960 shares in the company, valued at $5,232,715.60. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,620,519 shares of company stock worth $3,534,286 in the last three months. Insiders own 83.04% of the company's stock.

Institutional Investors Weigh In On loanDepot

Several institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC acquired a new position in loanDepot during the third quarter worth $27,000. Jane Street Group LLC acquired a new position in shares of loanDepot during the 3rd quarter worth about $54,000. Atria Investments Inc grew its holdings in shares of loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company's stock valued at $60,000 after acquiring an additional 6,372 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company's stock valued at $151,000 after acquiring an additional 19,655 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of loanDepot by 293.5% in the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company's stock valued at $153,000 after acquiring an additional 41,767 shares during the last quarter. 39.39% of the stock is owned by institutional investors.

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.