MAI Capital Management Makes New $53,000 Investment in loanDepot, Inc. $LDI

MAI Capital Management purchased a new stake in loanDepot, Inc. (NYSE:LDI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,000 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors also recently modified their holdings of the company. Wilshire Advisors LLC grew its stake in loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock valued at $33,000 after buying an additional 7,899 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of loanDepot in the second quarter worth $46,000. Invesco Ltd. purchased a new position in shares of loanDepot in the first quarter valued at $44,000. Vanguard Personalized Indexing Management LLC grew its position in shares of loanDepot by 130.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company’s stock valued at $47,000 after purchasing an additional 21,091 shares in the last quarter. Finally, Capstone Financial Advisors Inc. raised its stake in shares of loanDepot by 60.0% during the 1st quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company’s stock valued at $48,000 after purchasing an additional 15,000 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at loanDepot

In other loanDepot news, Director Dawn G. Lepore sold 30,624 shares of loanDepot stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $2.89, for a total transaction of $88,503.36. Following the completion of the sale, the director owned 168,542 shares of the company’s stock, valued at $487,086.38. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CIO Jeffrey Michael Dergurahian sold 250,000 shares of the company’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 completion of the transaction, the executive owned 1,074,695 shares of the company’s stock, valued at $3,234,831.95. The trade was a 18.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,530,795 shares of company stock worth $38,907,706. Company insiders own 78.05% of the company’s stock.

loanDepot Trading Up 2.3%

Shares of loanDepot stock opened at $2.85 on Friday. The company has a debt-to-equity ratio of 6.94, a current ratio of 1.19 and a quick ratio of 1.19. loanDepot, Inc. has a 1 year low of $1.01 and a 1 year high of $5.05. The firm has a market cap of $948.07 million, a PE ratio of -7.90 and a beta of 3.45. The company has a 50 day simple moving average of $2.99 and a two-hundred day simple moving average of $2.25.

loanDepot (NYSE:LDI) last issued its quarterly earnings results 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 net margin of 6.46% and a negative return on equity of 22.40%. The firm had revenue of $325.16 million for the quarter, compared to analyst estimates of $309.20 million. Analysts expect that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on LDI shares. BTIG Research restated a “neutral” rating on shares of loanDepot in a research note on Wednesday, September 10th. UBS Group raised their price objective on shares of loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. The Goldman Sachs Group increased their target price on shares of loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

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.