loanDepot, Inc. (NYSE:LDI) Short Interest Up 5.4% in December

loanDepot, Inc. (NYSE:LDI - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, a growth of 5.4% from the December 15th total of 1,680,000 shares. Based on an average daily trading volume, of 884,600 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.4% of the shares of the company are sold short.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Li Hsieh sold 444,618 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $2.11, for a total transaction of $938,143.98. Following the completion of the sale, the director now directly owns 2,479,960 shares in the company, valued at $5,232,715.60. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,359,358 shares of company stock worth $3,001,142. 83.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LDI. Park Avenue Securities LLC bought a new stake in shares of loanDepot during the 3rd quarter valued at $27,000. Jane Street Group LLC bought a new position in shares of loanDepot in the third quarter worth $54,000. Atria Investments Inc grew its position 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 buying an additional 6,372 shares in the last quarter. 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 valued at $151,000 after acquiring an additional 19,655 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of 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 purchasing an additional 41,767 shares during the last quarter. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their target price on loanDepot from $1.70 to $2.70 and gave the company a "sell" rating in a research note on Thursday, November 14th.

loanDepot Stock Down 0.8 %

Shares of LDI stock traded down $0.02 on Monday, reaching $1.78. 748,044 shares of the company were exchanged, compared to its average volume of 828,499. 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 company has a 50-day moving average of $2.10 and a 200-day moving average of $2.26. The company has a market cap of $580.43 million, a price-to-earnings ratio of -3.41, a PEG ratio of 0.26 and a beta of 3.41. loanDepot has a one year low of $1.52 and a one year high of $3.23.

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.