loanDepot, Inc. (NYSE:LDI) Sees Significant Increase in Short Interest

loanDepot, Inc. (NYSE:LDI - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,640,000 shares, an increase of 54.4% from the February 28th total of 1,710,000 shares. Approximately 3.6% of the company's stock are short sold. Based on an average daily trading volume, of 964,900 shares, the short-interest ratio is presently 2.7 days.

Institutional Trading of loanDepot

Several institutional investors have recently added to or reduced their stakes in LDI. Barclays PLC bought a new position in shares of loanDepot in the 3rd quarter worth about $2,180,000. Cannell & Spears LLC boosted its stake in loanDepot by 301.3% in the fourth quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company's stock valued at $2,640,000 after acquiring an additional 971,700 shares during the period. Walleye Capital LLC bought a new position in shares of loanDepot during the third quarter valued at approximately $897,000. Geode Capital Management LLC raised its position in shares of loanDepot by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company's stock worth $1,968,000 after purchasing an additional 125,059 shares during the period. Finally, Empowered Funds LLC raised its position in shares of loanDepot by 5.0% during the 4th quarter. Empowered Funds LLC now owns 245,189 shares of the company's stock worth $500,000 after purchasing an additional 11,647 shares during the period. Institutional investors own 39.39% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price objective on shares of loanDepot from $2.00 to $1.35 and set a "neutral" rating for the company in a report on Friday, March 14th.

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loanDepot Stock Performance

Shares of LDI traded up $0.01 during mid-day trading on Thursday, hitting $1.23. The stock had a trading volume of 815,258 shares, compared to its average volume of 746,057. loanDepot has a fifty-two week low of $1.13 and a fifty-two week high of $3.23. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76. The company has a market cap of $403.79 million, a PE ratio of -2.37, a PEG ratio of 0.25 and a beta of 3.36. The company's fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $1.99.

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.