loanDepot (NYSE:LDI) Sees Unusually-High Trading Volume

loanDepot, Inc. (NYSE:LDI) saw unusually-high trading volume on Friday . Approximately 293,574 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 432,291 shares.The stock last traded at $2.19 and had previously closed at $2.20.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their price target on shares of loanDepot from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Wednesday, March 13th.

loanDepot Stock Down 2.3 %

The firm has a market cap of $694.64 million, a PE ratio of -3.77 and a beta of 3.54. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.45.

loanDepot (NYSE:LDI) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. The firm had revenue of $228.63 million for the quarter, compared to analysts’ expectations of $239.40 million. As a group, equities research analysts expect that loanDepot, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other loanDepot news, Director Dan Binowitz sold 13,900 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2.34, for a total value of $32,526.00. Following the completion of the sale, the director now owns 783,251 shares of the company’s stock, valued at $1,832,807.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 83.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

A number of hedge funds have recently added to or reduced their stakes in LDI. Jump Financial LLC bought a new stake in shares of loanDepot during the fourth quarter valued at about $81,000. Counterpoint Mutual Funds LLC purchased a new position in loanDepot during the 4th quarter valued at about $106,000. Cullen Capital Management LLC purchased a new position in loanDepot during the 4th quarter valued at about $150,000. Empowered Funds LLC grew its stake in shares of loanDepot by 8.2% in the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after buying an additional 15,565 shares in the last quarter. Finally, DC Investments Management LLC bought a new stake in shares of loanDepot in the 1st quarter valued at approximately $559,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.