loanDepot, Inc. (NYSE:LDI) Sees Large Drop in Short Interest

loanDepot, Inc. (NYSE:LDI) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 1,700,000 shares, a decrease of 24.8% from the October 31st total of 2,260,000 shares. Based on an average daily trading volume, of 867,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.4% of the shares of the stock are sold short.

loanDepot Stock Performance

LDI traded down $0.03 during trading on Friday, reaching $2.27. The company had a trading volume of 170,612 shares, compared to its average volume of 600,712. 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 12 month low of $1.52 and a 12 month high of $3.71. The business’s fifty day moving average price is $2.38 and its 200 day moving average price is $2.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LDI. The Goldman Sachs Group raised their target price 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. UBS Group increased their price target 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.

Insider Activity

In other loanDepot news, insider Jeff Alexander Walsh sold 66,666 shares of the 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 sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony Li Hsieh sold 239,729 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $2.44, for a total transaction of $584,938.76. Following the sale, the director now directly owns 3,248,070 shares in the company, valued at approximately $7,925,290.80. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,669,223 shares of company stock worth $3,860,834. 83.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC lifted its position in shares of loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after purchasing an additional 57,546 shares in the last quarter. Barclays PLC acquired a new position in shares of loanDepot in the third quarter valued at approximately $2,180,000. Geode Capital Management LLC lifted its holdings in loanDepot by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock worth $1,968,000 after purchasing an additional 125,059 shares during the last quarter. Walleye Capital LLC acquired a new position in loanDepot in the 3rd quarter valued at $897,000. Finally, Empowered Funds LLC lifted its holdings in shares of loanDepot by 5.3% during the third quarter. Empowered Funds LLC now owns 233,542 shares of the company’s stock worth $638,000 after buying an additional 11,792 shares in the last quarter. 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.