loanDepot (NYSE:LDI) Trading Down 5.1% - Time to Sell?

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares dropped 5.1% on Thursday . The company traded as low as $2.04 and last traded at $2.06. Approximately 230,077 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 555,361 shares. The stock had previously closed at $2.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LDI. UBS Group boosted their target price on shares of 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 increased 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. Finally, JMP Securities restated a "market perform" rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Price Performance

The stock's 50-day moving average is $2.60 and its 200 day moving average is $2.26. The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $660.12 million, a PE ratio of -3.58 and a beta of 3.43.

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

Insider Buying and Selling at loanDepot

In related news, insider Jeff Alexander Walsh sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total transaction of $142,500.00. Following the transaction, the insider now owns 4,122,128 shares of the company's stock, valued at $11,748,064.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other loanDepot news, Director Anthony Li Hsieh sold 639,186 shares of the company's stock in a transaction on 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 completion of the transaction, the director now owns 2,390,460 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Jeff Alexander Walsh sold 50,000 shares of loanDepot stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total transaction of $142,500.00. Following the completion of the sale, the insider now directly owns 4,122,128 shares in the company, valued at approximately $11,748,064.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,234,870 shares of company stock worth $6,043,658. 83.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Cullen Capital Management LLC acquired a new position in loanDepot during the 4th quarter worth approximately $150,000. Cetera Advisors LLC lifted its holdings in loanDepot by 66.3% in the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company's stock valued at $294,000 after acquiring an additional 45,173 shares during the period. American Century Companies Inc. boosted 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 worth $151,000 after purchasing an additional 19,655 shares in the last quarter. Empowered Funds LLC grew its stake in shares of loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company's stock worth $533,000 after purchasing an additional 15,565 shares during the period. Finally, G2 Investment Partners Management LLC purchased a new position in shares of loanDepot in the 4th quarter valued at about $792,000. 39.39% of the stock is owned by hedge funds and other 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.