Short Interest in loanDepot, Inc. (NYSE:LDI) Drops By 24.8%

loanDepot, Inc. (NYSE:LDI) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,700,000 shares, a decline of 24.8% from the October 31st total of 2,260,000 shares. Based on an average daily volume of 867,600 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.4% of the company’s shares are short sold.

Insiders Place Their Bets

In other loanDepot news, Director Anthony Li Hsieh sold 10,141 shares of loanDepot stock in a transaction on Friday, September 13th. The shares were sold at an average price of $2.57, for a total transaction of $26,062.37. Following the completion of the sale, the director now owns 1,865,727 shares of the company’s stock, valued at approximately $4,794,918.39. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 $9,965,143.76. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,669,223 shares of company stock valued at $3,860,834. 83.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LDI. Park Avenue Securities LLC bought a new stake in shares of loanDepot in the third quarter valued at about $27,000. Jane Street Group LLC acquired a new stake in loanDepot in the 3rd quarter valued at approximately $54,000. Atria Investments Inc lifted its stake in loanDepot by 41.0% in the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after acquiring an additional 6,372 shares in the last quarter. American Century Companies Inc. lifted its stake in loanDepot by 27.3% in 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 in the last quarter. Finally, Verition Fund Management LLC boosted its position in loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after acquiring an additional 41,767 shares during the last quarter. Institutional investors own 39.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on loanDepot from $2.30 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their target price on shares of 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 2.2 %

Shares of NYSE:LDI traded down $0.05 during trading on Friday, hitting $2.25. 236,423 shares of the company’s stock traded hands, compared to its average volume of 978,659. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.76. The company has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.24. loanDepot has a 52 week low of $1.52 and a 52 week high of $3.71. The company has a market cap of $735.75 million, a price-to-earnings ratio of -4.33 and a beta of 3.46.

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.