loanDepot (NYSE:LDI) Trading Down 4.5% After Insider Selling

loanDepot's stock fell 4.5% after CIO Jeffrey Michael Dergurahian sold 250,000 shares. The stock traded at $2.8750, down from $3.01. Analysts have mixed ratings, with a consensus target price of $3.00. The company reported better-than-expected earnings, but has a negative net margin and return on equity. Institutional investors have adjusted their positions, owning 39.39% of the stock. loanDepot provides mortgage and insurance services in the U.S.

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares fell 4.5% on Wednesday after an insider sold shares in the company. The stock traded as low as $2.90 and last traded at $2.8750. 350,851 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,657,812 shares. The stock had previously closed at $3.01.

Here’s What Driving the 125% YTD Gains for Upstart Holdings Stock

Specifically, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $3.01, for a total value of $752,500.00. Following the transaction, the executive owned 1,074,695 shares in the company, valued at approximately $3,234,831.95. The trade was a 18.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of brokerages have weighed in on LDI. UBS Group lifted their target price on loanDepot from $1.90 to $3.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. The Goldman Sachs Group boosted their target price on loanDepot from $1.45 to $3.00 and gave the company a "sell" rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of loanDepot in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of loanDepot from a "sell" rating to a "hold" rating in a report on Sunday, November 9th. Finally, BTIG Research reiterated a "neutral" rating on shares of loanDepot in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $3.00.

Check Out Our Latest Research Report on LDI

loanDepot Price Performance

The business has a 50 day moving average price of $3.07 and a two-hundred day moving average price of $2.23. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $954.73 million, a PE ratio of -7.99 and a beta of 3.45.

loanDepot (NYSE:LDI - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $325.16 million during the quarter, compared to analyst estimates of $309.20 million. loanDepot had a negative net margin of 6.46% and a negative return on equity of 22.40%. Research analysts expect that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilshire Advisors LLC increased its stake in shares of loanDepot by 39.8% in the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after purchasing an additional 7,899 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of loanDepot by 8,934.0% during the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company's stock worth $28,000 after acquiring an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in shares of loanDepot in the third quarter valued at $31,000. CWM LLC purchased a new stake in shares of loanDepot in the third quarter worth about $32,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in loanDepot in the 3rd quarter worth approximately $31,000. Institutional investors own 39.39% of the company's stock.

loanDepot Company Profile

(Get Free Report)

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.

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