loanDepot (NYSE:LDI) Trading 4.7% Higher – Time to Buy?

Shares of loanDepot, Inc. (NYSE:LDI) were up 4.7% during trading on Tuesday . The company traded as high as $2.23 and last traded at $2.22. Approximately 504,429 shares changed hands during trading, a decline of 18% from the average daily volume of 611,702 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LDI. UBS Group boosted their target price on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their price objective on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th.

loanDepot Stock Up 0.5 %

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 has a market cap of $696.51 million, a P/E ratio of -4.27 and a beta of 3.42. The company’s 50 day moving average price is $2.25 and its two-hundred day moving average price is $2.25.

Insiders Place Their Bets

In related news, Director Anthony Li Hsieh sold 18,806 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.06, for a total value of $38,740.36. Following the completion of the transaction, the director now owns 2,927,686 shares of the company’s stock, valued at $6,031,033.16. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total value of $97,917.26. Following the sale, the insider now directly owns 4,035,317 shares in the company, valued at $10,733,943.22. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,657,330 shares of company stock worth $3,632,204. 83.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in LDI. Wolverine Asset Management LLC raised its holdings in loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after purchasing an additional 57,546 shares in the last quarter. American Century Companies Inc. grew its position in shares of loanDepot by 27.3% in the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after buying an additional 19,655 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 worth $328,000 after acquiring an additional 158,221 shares in the last quarter. 272 Capital LP raised its stake in shares of loanDepot by 107.4% during the 2nd quarter. 272 Capital LP now owns 183,190 shares of the company’s stock worth $302,000 after acquiring an additional 94,883 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in loanDepot during the third quarter valued at approximately $27,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.