loanDepot (NYSE:LDI) Trading 11.1% Higher – Should You Buy?

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

Wall Street Analysts Forecast Growth

LDI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of loanDepot in a research note on Wednesday, September 10th. The Goldman Sachs Group set a $2.40 target price on shares of loanDepot in a research note on Tuesday. UBS Group lifted their target price on shares of loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Morgan Stanley set a $1.75 price target on shares of loanDepot in a report on Monday, December 1st. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.38.

loanDepot Stock Up 6.8%

The firm has a 50-day moving average price of $2.57 and a two-hundred day moving average price of $2.47. The company has a market capitalization of $814.77 million, a P/E ratio of -6.85, a PEG ratio of 0.52 and a beta of 3.47. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 6.94.

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

Insider Activity at loanDepot

In related news, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $3.01, for a total value of $752,500.00. Following the completion of the transaction, the executive directly owned 1,074,695 shares in the company, valued at approximately $3,234,831.95. This represents a 18.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawn G. Lepore sold 9,403 shares of loanDepot stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $2.73, for a total transaction of $25,670.19. Following the sale, the director owned 183,745 shares in the company, valued at $501,623.85. This represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,890,027 shares of company stock worth $15,651,377. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in loanDepot by 8,934.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock valued at $28,000 after purchasing an additional 8,934 shares during the last quarter. Traynor Capital Management Inc. bought a new position in shares of loanDepot in the third quarter valued at approximately $31,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of loanDepot in the third quarter valued at approximately $31,000. CWM LLC acquired a new position in shares of loanDepot in the 3rd quarter worth approximately $32,000. Finally, Wilshire Advisors LLC grew its position in loanDepot by 39.8% during the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock worth $33,000 after acquiring an additional 7,899 shares during the last quarter. 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.