loanDepot (NYSE:LDI) Trading Up 4% - Time to Buy?

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) shot up 4% during trading on Tuesday . The stock traded as high as $2.12 and last traded at $2.10. Approximately 135,085 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 560,312 shares. The stock had previously closed at $2.02.

Analysts Set New Price Targets

Several brokerages have issued reports on LDI. UBS Group boosted their price target on shares of loanDepot from $2.30 to $2.50 and gave the company a "neutral" rating in a report on Thursday, September 5th. JMP Securities reissued a "market perform" rating on shares of loanDepot in a research report on Friday, June 21st. Finally, The Goldman Sachs Group lifted their price objective on loanDepot from $1.50 to $1.70 and gave the company a "sell" rating in a report on Thursday, August 8th.

loanDepot Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69. The stock has a fifty day simple moving average of $2.59 and a 200-day simple moving average of $2.25. The company has a market capitalization of $658.51 million, a P/E ratio of -3.57 and a beta of 3.43.

loanDepot (NYSE:LDI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $265.39 million during the quarter, compared to the consensus estimate of $267.66 million. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. Equities analysts forecast that loanDepot, Inc. will post -0.31 EPS for the current year.

Insider Activity

In related news, Director Anthony Li Hsieh sold 639,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the sale, the director now directly owns 2,390,460 shares in the company, valued at $7,099,666.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Anthony Li Hsieh sold 639,186 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the transaction, the director now owns 2,390,460 shares in the company, valued at $7,099,666.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the completion of the sale, the insider now owns 4,035,317 shares of the company's stock, valued at $10,733,943.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,234,870 shares of company stock worth $6,043,658. Insiders own 83.04% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC acquired a new stake in shares of loanDepot in the 3rd quarter valued at $27,000. Requisite Capital Management LLC acquired a new stake in loanDepot in the third quarter worth about $164,000. American Century Companies Inc. increased its position 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 purchasing an additional 19,655 shares during the period. Cetera Advisors LLC raised its holdings in loanDepot by 66.3% during the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company's stock worth $294,000 after purchasing an additional 45,173 shares during the last quarter. Finally, 272 Capital LP lifted its position in loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company's stock valued at $302,000 after purchasing an additional 94,883 shares during the period. 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.