loanDepot (NYSE:LDI) Stock Price Up 11.1% – Here’s What Happened

loanDepot, Inc. (NYSE:LDI) shares rose 11.1% during mid-day trading on Wednesday . The stock traded as high as $2.54 and last traded at $2.5450. Approximately 5,933,962 shares changed hands during trading, an increase of 97% from the average daily volume of 3,005,664 shares. The stock had previously closed at $2.29.

Analysts Set New Price Targets

Several brokerages have weighed in on LDI. The Goldman Sachs Group set a $2.40 price target on loanDepot in a report on Tuesday. Morgan Stanley set a $1.75 target price on loanDepot in a research note on Monday, December 1st. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. Finally, UBS Group upped their price objective on shares of loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.38.

loanDepot Stock Up 19.5%

The firm has a market capitalization of $971.38 million, a price-to-earnings ratio of -8.10, a price-to-earnings-growth ratio of 0.56 and a beta of 3.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 6.94. The firm has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $2.47.

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

Insiders Place Their Bets

In other loanDepot news, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $3.01, for a total value of $752,500.00. Following the transaction, the executive directly owned 1,074,695 shares of the company’s stock, valued at $3,234,831.95. This trade represents a 18.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony Li Hsieh sold 1,300,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $2.87, for a total value of $3,731,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 5,890,027 shares of company stock worth $15,651,377. Insiders own 78.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its stake in loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after purchasing an additional 4,842,751 shares in the last quarter. UBS Group AG boosted its stake in shares of loanDepot by 1,125.1% during the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after buying an additional 1,855,136 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after buying an additional 1,104,021 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of loanDepot by 1,264.5% during the third quarter. Squarepoint Ops LLC now owns 703,939 shares of the company’s stock worth $2,161,000 after buying an additional 652,348 shares in the last quarter. Finally, Continental Advisors LLC bought a new stake in shares of loanDepot in the second quarter worth $656,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.