loanDepot (NYSE:LDI) Shares Up 4.7% - Here's What Happened

loanDepot, Inc. (NYSE:LDI - Get Free Report)'s stock price shot up 4.7% during trading on Tuesday . The stock traded as high as $2.23 and last traded at $2.22. 504,429 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 611,702 shares. The stock had previously closed at $2.12.

Analyst Upgrades and Downgrades

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

loanDepot Price Performance

The business's fifty day moving average is $2.25 and its 200-day moving average is $2.25. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $694.88 million, a PE ratio of -4.09 and a beta of 3.42.

Insider Buying and Selling at loanDepot

In other news, Director Anthony Li Hsieh sold 18,806 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.06, for a total value of $38,740.36. Following the sale, the director now owns 2,927,686 shares of the company's stock, valued at $6,031,033.16. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the sale, the insider now owns 4,035,317 shares in the company, valued at $10,733,943.22. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,657,330 shares of company stock worth $3,632,204 over the last three months. 83.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC grew its position in shares of loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company's stock valued at $1,683,000 after purchasing an additional 57,546 shares in the last quarter. Barclays PLC bought a new position in loanDepot in the 3rd quarter worth about $2,180,000. Geode Capital Management LLC grew its holdings 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 buying an additional 125,059 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of loanDepot during the third quarter valued at about $897,000. Finally, Empowered Funds LLC lifted its holdings in shares of loanDepot by 5.3% in the third quarter. Empowered Funds LLC now owns 233,542 shares of the company's stock worth $638,000 after buying an additional 11,792 shares in the last quarter. Institutional investors own 39.39% of the company's stock.

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.