loanDepot (NYSE:LDI) Shares Gap Down – What’s Next?

loanDepot, Inc. (NYSE:LDI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $2.92, but opened at $2.80. loanDepot shares last traded at $2.7450, with a volume of 461,939 shares trading hands.

Analysts Set New Price Targets

LDI has been the subject of a number of research analyst reports. UBS Group raised their price target on shares of loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, October 29th. Finally, BTIG Research restated a “neutral” rating on shares of loanDepot in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, loanDepot presently has an average rating of “Reduce” and a consensus price target of $3.00.

loanDepot Trading Down 7.7%

The company has a debt-to-equity ratio of 6.94, a current ratio of 1.19 and a quick ratio of 1.18. The company’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $2.12. The stock has a market capitalization of $891.86 million, a PE ratio of -7.54 and a beta of 3.45.

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

Insider Activity at loanDepot

In other news, CEO Anthony Li Hsieh sold 1,300,000 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $2.87, for a total transaction of $3,731,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Darren Graeler sold 100,000 shares of loanDepot stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $4.30, for a total value of $430,000.00. Following the completion of the transaction, the chief accounting officer owned 219,871 shares of the company’s stock, valued at $945,445.30. The trade was a 31.26% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,587,748 shares of company stock worth $41,685,046. Corporate insiders own 78.05% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in loanDepot by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock worth $436,000 after buying an additional 85,129 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of loanDepot by 1,671.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company’s stock worth $780,000 after acquiring an additional 618,153 shares in the last quarter. Philosophy Capital Management LLC lifted its stake in loanDepot by 73.3% during the first quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after purchasing an additional 1,751,245 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in loanDepot in the first quarter valued at approximately $1,469,000. Finally, Wolverine Asset Management LLC increased its stake in loanDepot by 15.6% in the second quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock valued at $1,497,000 after purchasing an additional 158,739 shares during the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.