loanDepot (NYSE:LDI) Shares Gap Down – Should You Sell?

Shares of loanDepot, Inc. (NYSE:LDI) gapped down before the market opened on Wednesday . The stock had previously closed at $2.13, but opened at $2.05. loanDepot shares last traded at $2.15, with a volume of 178,997 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LDI shares. UBS Group upped 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 upped their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th.

loanDepot Price Performance

The stock has a market cap of $680.16 million, a price-to-earnings ratio of -4.09 and a beta of 3.42. The company has a 50 day simple moving average of $2.25 and a 200-day simple moving average of $2.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.76.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 36,811 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $2.66, for a total transaction of $97,917.26. Following the completion of the transaction, the insider now owns 4,035,317 shares in the company, valued at $10,733,943.22. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 146,072 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $2.52, for a total transaction of $368,101.44. Following the transaction, the director now owns 7,333,888 shares of the company’s stock, valued at $18,481,397.76. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,657,330 shares of company stock valued at $3,632,204 over the last 90 days. 83.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in loanDepot by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock valued at $1,968,000 after acquiring an additional 125,059 shares during the period. Barclays PLC acquired a new position in shares of loanDepot during the third quarter valued at $2,180,000. Jane Street Group LLC bought a new stake in shares of loanDepot during the third quarter valued at about $54,000. Quadrature Capital Ltd lifted its holdings in loanDepot by 153.8% in the third quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after purchasing an additional 51,231 shares during the period. Finally, Verition Fund Management LLC grew its position in loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares in the last quarter. Institutional investors own 39.39% of the company’s stock.

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.