loanDepot (NYSE:LDI) Sees Strong Trading Volume - Still a Buy?

loanDepot, Inc. (NYSE:LDI - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,356,103 shares were traded during trading, an increase of 138% from the previous session's volume of 569,171 shares.The stock last traded at $2.05 and had previously closed at $2.11.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LDI. The Goldman Sachs Group raised their price objective on loanDepot from $1.50 to $1.70 and gave the stock a "sell" rating in a report on Thursday, August 8th. UBS Group boosted 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.

loanDepot Trading Down 0.9 %

The company has a market capitalization of $676.30 million, a PE ratio of -3.67 and a beta of 3.43. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.69. The business's 50-day simple moving average is $2.57 and its two-hundred day simple moving average is $2.23.

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

Insider Transactions at loanDepot

In related news, Director Anthony Li Hsieh sold 267,972 shares of loanDepot stock in a transaction on Monday, August 19th. The stock was sold at an average price of $2.74, for a total value of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares in the company, valued at $8,885,778.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Anthony Li Hsieh sold 267,972 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $2.74, for a total transaction of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares of the company's stock, valued at approximately $8,885,778.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeff Alexander Walsh sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 4,122,128 shares of the company's stock, 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. In the last three months, insiders sold 2,496,031 shares of company stock valued at $6,576,802. Company insiders own 83.04% of the company's stock.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DC Investments Management LLC bought a new position in shares of loanDepot during the 1st quarter valued at $559,000. Dimensional Fund Advisors LP increased its holdings in shares of loanDepot by 390.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company's stock valued at $328,000 after acquiring an additional 158,221 shares during the last quarter. 272 Capital LP raised its stake in shares of loanDepot by 107.4% in the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company's stock valued at $302,000 after acquiring an additional 94,883 shares in the last quarter. ERn Financial LLC acquired a new stake in shares of loanDepot in the third quarter worth $248,000. Finally, Requisite Capital Management LLC bought a new stake in shares of loanDepot during the 3rd quarter worth $164,000. 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.