loanDepot (NYSE:LDI) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

loanDepot (NYSE:LDI) released its quarterly earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.24), Zacks reports. loanDepot had a negative net margin of 8.95% and a negative return on equity of 14.66%.

loanDepot Stock Down 5.6 %

Shares of LDI stock traded down $0.10 during trading hours on Tuesday, hitting $1.61. 1,775,597 shares of the company’s stock traded hands, compared to its average volume of 674,378. 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 stock’s fifty day simple moving average is $1.71 and its two-hundred day simple moving average is $2.14. loanDepot has a 12-month low of $1.34 and a 12-month high of $3.23. The stock has a market cap of $524.84 million, a price-to-earnings ratio of -3.09, a PEG ratio of 0.25 and a beta of 3.36.

Insider Buying and Selling

In other loanDepot news, Director Anthony Li Hsieh sold 444,618 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $2.11, for a total value of $938,143.98. Following the sale, the director now directly owns 2,479,960 shares of the company’s stock, valued at approximately $5,232,715.60. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 83.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price objective on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research report on Thursday, November 14th.

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.