Geode Capital Management LLC Grows Stock Position in loanDepot, Inc. (NYSE:LDI)

Geode Capital Management LLC grew its position in shares of loanDepot, Inc. (NYSE:LDI) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 720,747 shares of the company’s stock after buying an additional 125,059 shares during the period. Geode Capital Management LLC’s holdings in loanDepot were worth $1,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC purchased a new position in shares of loanDepot in the third quarter worth about $2,180,000. Jane Street Group LLC bought a new position in loanDepot in the 3rd quarter worth approximately $54,000. Quadrature Capital Ltd grew its stake in loanDepot by 153.8% in the 3rd quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock valued at $230,000 after buying an additional 51,231 shares in the last quarter. Verition Fund Management LLC raised its holdings in 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 acquiring an additional 41,767 shares during the period. Finally, Walleye Capital LLC bought a new stake in loanDepot during the 3rd quarter valued at $897,000. Institutional investors own 39.39% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price target on shares of loanDepot from $1.70 to $2.70 and gave the stock a “sell” rating in a report on Thursday, November 14th.

loanDepot Stock Down 4.3 %

Shares of loanDepot stock opened at $1.68 on Thursday. 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, Inc. has a 52-week low of $1.52 and a 52-week high of $3.23. The company’s 50 day moving average price is $2.19 and its 200-day moving average price is $2.25. The stock has a market capitalization of $547.73 million, a price-to-earnings ratio of -3.22 and a beta of 3.41.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total transaction of $168,664.98. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 242,355 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,434,676.12. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,620,519 shares of company stock worth $3,534,286 over the last 90 days. 83.04% of the stock is owned by company insiders.

About loanDepot

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.