loanDepot (NYSE:LDI) Shares Down 2.9% - Here's Why

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares traded down 2.9% on Tuesday . The stock traded as low as $1.83 and last traded at $1.84. 158,695 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 618,484 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

LDI has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on loanDepot from $1.70 to $2.70 and gave the company a "sell" rating in a research report on Thursday, November 14th. UBS Group increased their target price 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.

loanDepot Stock Performance

The firm has a fifty day moving average of $2.24 and a 200-day moving average of $2.25. 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 stock has a market capitalization of $618.03 million, a price-to-earnings ratio of -3.63 and a beta of 3.42.

Insider Activity

In related news, Director Anthony Li Hsieh sold 444,618 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $2.11, for a total value of $938,143.98. Following the transaction, the director now owns 2,479,960 shares in the company, valued at approximately $5,232,715.60. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeff Alexander Walsh sold 66,666 shares of the firm's 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 sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,657,330 shares of company stock worth $3,632,204. 83.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in shares of loanDepot during the third quarter worth $27,000. Jane Street Group LLC bought a new stake in shares of loanDepot during the 3rd quarter valued at about $54,000. Atria Investments Inc raised its stake in loanDepot by 41.0% during 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 during the period. American Century Companies Inc. lifted its holdings in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company's stock worth $151,000 after acquiring an additional 19,655 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in 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 acquiring an additional 41,767 shares during the last quarter. Institutional investors own 39.39% of the company's stock.

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.