loanDepot (NYSE:LDI) Shares Gap Down - Here's Why

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.13, but opened at $2.05. loanDepot shares last traded at $2.15, with a volume of 178,997 shares changing hands.

Analyst Ratings Changes

LDI has been the topic of several research reports. UBS Group lifted their price objective on shares of loanDepot from $2.30 to $2.50 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.70 to $2.70 and gave the stock a "sell" rating in a research note on Thursday, November 14th.

loanDepot Trading Down 7.5 %

The firm has a fifty day moving average of $2.25 and a two-hundred day moving average of $2.25. The company has a market cap of $644.19 million, a PE ratio of -3.79 and a beta of 3.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insiders Place Their Bets

In other loanDepot news, Director Anthony Li Hsieh sold 242,355 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $2.04, for a total transaction of $494,404.20. Following the sale, the director now owns 3,154,253 shares in the company, valued at $6,434,676.12. This represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction 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 completion of the transaction, the insider now owns 3,938,792 shares of the company's stock, valued at approximately $9,965,143.76. This trade represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,657,330 shares of company stock worth $3,632,204 over the last quarter. 83.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC bought a new position in shares of loanDepot in the third quarter valued at approximately $27,000. Jane Street Group LLC purchased a new stake in loanDepot in the 3rd quarter worth approximately $54,000. Atria Investments Inc boosted its holdings in 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 purchasing an additional 6,372 shares during the period. American Century Companies Inc. grew its position in shares of loanDepot by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company's stock valued at $151,000 after purchasing an additional 19,655 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings 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 worth $153,000 after purchasing an additional 41,767 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.