loanDepot (NYSE:LDI) Announces Earnings Results, Beats Expectations By $0.02 EPS

loanDepot (NYSE:LDI) announced its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02, Zacks reports. The firm had revenue of $325.16 million for the quarter, compared to the consensus estimate of $309.20 million. loanDepot had a negative net margin of 5.95% and a negative return on equity of 19.41%.

loanDepot Stock Up 3.2%

Shares of NYSE LDI traded up $0.09 during mid-day trading on Friday, hitting $2.74. The company had a trading volume of 5,348,680 shares, compared to its average volume of 3,638,429. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. The firm has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $2.07. The company has a market capitalization of $905.09 million, a PE ratio of -8.29 and a beta of 3.45. loanDepot has a one year low of $1.01 and a one year high of $5.05.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Li Hsieh sold 3,046,005 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $2.64, for a total value of $8,041,453.20. Following the completion of the transaction, the chief executive officer directly owned 4,693,712 shares in the company, valued at $12,391,399.68. This trade represents a 39.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 14,587,748 shares of company stock worth $41,685,046 over the last ninety days. Corporate insiders own 78.05% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several large investors have recently made changes to their positions in the stock. Invesco Ltd. bought a new position in shares of loanDepot in the first quarter valued at $44,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in loanDepot in the second quarter valued at $57,000. New York State Common Retirement Fund bought a new position in shares of loanDepot in the 2nd quarter valued at about $98,000. Cerity Partners LLC bought a new position in shares of loanDepot in the 2nd quarter valued at about $116,000. Finally, Jane Street Group LLC acquired a new position in shares of loanDepot during the 1st quarter worth about $122,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, October 29th. BTIG Research reissued a “neutral” rating on shares of loanDepot in a research note on Wednesday, September 10th. Wall Street Zen lowered loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, UBS Group increased their price objective on loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, loanDepot has an average rating of “Reduce” and an average price target of $3.00.

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.