Insider Buying: loanDepot (NYSE:LDI) CEO Acquires $335,217.64 in Stock

loanDepot, Inc. (NYSE:LDI) CEO Anthony Li Hsieh bought 364,367 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average price of $0.92 per share, with a total value of $335,217.64. Following the transaction, the chief executive officer directly owned 471,466 shares of the company’s stock, valued at approximately $433,748.72. This trade represents a 340.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Anthony Li Hsieh also recently made the following trade(s):

• On Thursday, August 27th, Anthony Li Hsieh purchased 38,612 shares of loanDepot stock. The shares were acquired at an average price of $0.94 per share, for a total transaction of $36,295.28.
• On Wednesday, August 26th, Anthony Li Hsieh acquired 284,349 shares of loanDepot stock. The stock was acquired at an average cost of $0.89 per share, with a total value of $253,070.61.
• On Monday, August 24th, Anthony Li Hsieh acquired 107,099 shares of loanDepot stock. The stock was acquired at an average price of $0.89 per share, with a total value of $95,318.11.

loanDepot Trading Down 1.5%

Shares of LDI stock opened at $0.96 on Friday. The stock has a market capitalization of $323.97 million, a price-to-earnings ratio of -3.20 and a beta of 3.37. The company’s fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.36. loanDepot, Inc. has a 1 year low of $0.83 and a 1 year high of $5.05. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11.

Analyst Ratings Changes

Several brokerages have recently commented on LDI. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Zacks Research upgraded loanDepot from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $1.92.

Institutional Trading of loanDepot

A number of institutional investors have recently modified their holdings of LDI. Millennium Management LLC increased its position in shares of loanDepot by 622.6% during the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after acquiring an additional 4,842,751 shares during the period. Vanguard Group Inc. grew its stake in loanDepot by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after purchasing an additional 226,347 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in loanDepot by 22.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock worth $5,375,000 after purchasing an additional 472,159 shares in the last quarter. Wasatch Advisors LP increased its holdings in loanDepot by 36.2% during the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock worth $2,870,000 after purchasing an additional 609,893 shares during the period. Finally, Geode Capital Management LLC increased its holdings in loanDepot by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock worth $4,543,000 after purchasing an additional 148,644 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.