Insider Buying: loanDepot (NYSE:LDI) CEO Acquires 364,367 Shares

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

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

• On Monday, August 24th, Anthony Li Hsieh acquired 107,099 shares of loanDepot stock. The stock was bought at an average price of $0.89 per share, with a total value of $95,318.11.

loanDepot Stock Down 4.8%

Shares of loanDepot stock traded down $0.04 during trading on Wednesday, reaching $0.88. 1,935,215 shares of the company traded hands, compared to its average volume of 2,582,272. The firm has a market capitalization of $296.94 million, a PE ratio of -2.93 and a beta of 3.37. loanDepot, Inc. has a 1-year low of $0.83 and a 1-year high of $5.05. The company has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.38. 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

LDI has been the subject of several research reports. Zacks Research upgraded loanDepot from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. The Goldman Sachs Group set a $1.00 price objective on loanDepot in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three equities 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, the stock has a consensus rating of “Reduce” and a consensus price target of $1.92.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Invesco Ltd. bought a new stake in shares of loanDepot during the first quarter worth about $44,000. Goldman Sachs Group Inc. lifted its position in loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after acquiring an additional 85,129 shares in the last quarter. Jane Street Group LLC bought a new position in loanDepot in the 1st quarter valued at about $122,000. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 1,104,021 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in loanDepot during the 2nd quarter valued at about $98,000. 39.39% of the stock is owned by 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.