loanDepot, Inc. (NYSE:LDI – Get Free Report) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 2,500,000 shares, a decline of 5.3% from the September 30th total of 2,640,000 shares. Based on an average trading volume of 843,600 shares, the short-interest ratio is currently 3.0 days. Approximately 3.6% of the shares of the stock are short sold.
Analysts Set New Price Targets
A number of equities research analysts recently commented on LDI shares. UBS Group increased their price target 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 price objective on loanDepot from $1.50 to $1.70 and gave the stock a “sell” rating in a report on Thursday, August 8th.
Check Out Our Latest Research Report on loanDepot
loanDepot Trading Down 0.9 %
loanDepot (NYSE:LDI – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. loanDepot had a negative return on equity of 18.22% and a negative net margin of 11.22%. The business had revenue of $265.39 million during the quarter, compared to analysts’ expectations of $267.66 million. As a group, sell-side analysts expect that loanDepot will post -0.31 EPS for the current year.
Insider Activity
In related news, Director Anthony Li Hsieh sold 268,689 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.88, for a total value of $773,824.32. Following the completion of the transaction, the director now owns 3,510,957 shares of the company’s stock, valued at $10,111,556.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Anthony Li Hsieh sold 268,689 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.88, for a total value of $773,824.32. Following the sale, the director now owns 3,510,957 shares in the company, valued at approximately $10,111,556.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff Alexander Walsh sold 36,811 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 4,035,317 shares in the company, valued at approximately $10,733,943.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,496,031 shares of company stock worth $6,576,802. Corporate insiders own 83.04% of the company’s stock.
Institutional Trading of loanDepot
Hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in loanDepot in the third quarter worth $27,000. American Century Companies Inc. lifted its holdings in loanDepot by 27.3% during the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after acquiring an additional 19,655 shares in the last quarter. Requisite Capital Management LLC acquired a new position in loanDepot in the third quarter valued at about $164,000. ERn Financial LLC bought a new stake in shares of loanDepot in the third quarter worth about $248,000. Finally, Cetera Advisors LLC raised its position in shares of loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after purchasing an additional 45,173 shares during the period. 39.39% of the stock is currently owned by institutional investors and hedge funds.
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.
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