loanDepot, Inc. (NYSE:LDI – Get Free Report) rose 4.7% during trading on Monday . The stock traded as high as $2.07 and last traded at $2.02. Approximately 470,545 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 619,498 shares. The stock had previously closed at $1.93.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th. The Goldman Sachs Group raised their price target on shares of loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a research note on Thursday, November 14th.
Get Our Latest Research Report on loanDepot
loanDepot Stock Up 6.0 %
Insider Buying and Selling
In other loanDepot news, Director Anthony Li Hsieh sold 444,618 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $2.11, for a total value of $938,143.98. Following the completion of the sale, the director now directly owns 2,479,960 shares of the company’s stock, valued at $5,232,715.60. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction dated 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. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,657,330 shares of company stock worth $3,632,204. 83.04% of the stock is owned by insiders.
Institutional Trading of loanDepot
Several institutional investors have recently made changes to their positions in LDI. Geode Capital Management LLC lifted its stake in shares of loanDepot by 21.0% in the 3rd 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 last quarter. Barclays PLC purchased a new stake in shares of loanDepot in the 3rd quarter valued at $2,180,000. Jane Street Group LLC acquired a new position in loanDepot during the 3rd quarter worth about $54,000. Quadrature Capital Ltd boosted its holdings in loanDepot by 153.8% during the 3rd quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock valued at $230,000 after acquiring an additional 51,231 shares during the period. Finally, Verition Fund Management LLC grew its position in loanDepot by 293.5% in the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after acquiring an additional 41,767 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.
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.
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