loanDepot, Inc. (NYSE:LDI) Short Interest Down 15.9% in November

loanDepot, Inc. (NYSE:LDI) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,430,000 shares, a decline of 15.9% from the November 15th total of 1,700,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 866,100 shares, the short-interest ratio is presently 1.7 days.

Insider Buying and Selling

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the sale, the insider now directly owns 3,938,792 shares of the company’s stock, valued at $9,965,143.76. The trade was a 1.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Li Hsieh sold 242,355 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $2.04, for a total transaction of $494,404.20. Following the sale, the director now directly owns 3,154,253 shares of the company’s stock, valued at $6,434,676.12. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,085,785 shares of company stock worth $2,424,974 in the last ninety days. Insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several large investors have recently modified their holdings of LDI. Geode Capital Management LLC increased its stake in shares of loanDepot by 21.0% in the third quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock valued at $1,968,000 after purchasing an additional 125,059 shares during the period. Barclays PLC acquired a new position in loanDepot in the 3rd quarter worth approximately $2,180,000. Jane Street Group LLC acquired a new position in loanDepot in the 3rd quarter worth approximately $54,000. Quadrature Capital Ltd boosted its stake in loanDepot by 153.8% in the 3rd quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after purchasing an additional 51,231 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares during the period. Institutional investors own 39.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LDI. The Goldman Sachs Group upped their price target on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a research report on Thursday, November 14th. UBS Group raised their target price on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, September 5th.

loanDepot Stock Performance

Shares of LDI stock opened at $2.07 on Monday. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.16 and a current ratio of 1.16. loanDepot has a one year low of $1.52 and a one year high of $3.71. The company’s 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.25. The stock has a market capitalization of $676.89 million, a price-to-earnings ratio of -3.98 and a beta of 3.42.

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.