loanDepot (NYSE:LDI) Shares Gap Down to $2.36

loanDepot, Inc. (NYSE:LDI) gapped down before the market opened on Wednesday . The stock had previously closed at $2.36, but opened at $2.30. loanDepot shares last traded at $2.32, with a volume of 222,942 shares.

Wall Street Analyst Weigh In

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

loanDepot Trading Up 0.9 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 4.24. The stock has a market capitalization of $756.03 million, a P/E ratio of -3.71 and a beta of 3.13. The firm’s 50 day simple moving average is $2.51 and its two-hundred day simple moving average is $2.32.

loanDepot (NYSE:LDI) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.11). loanDepot had a negative net margin of 11.31% and a negative return on equity of 20.63%. The company had revenue of $228.63 million during the quarter, compared to the consensus estimate of $239.40 million. As a group, analysts forecast that loanDepot, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dan Binowitz sold 13,900 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2.34, for a total transaction of $32,526.00. Following the transaction, the director now directly owns 783,251 shares in the company, valued at $1,832,807.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jeff Alexander Walsh sold 39,284 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $2.63, for a total transaction of $103,316.92. Following the transaction, the insider now directly owns 3,954,678 shares in the company, valued at $10,400,803.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan Binowitz sold 13,900 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total transaction of $32,526.00. Following the transaction, the director now owns 783,251 shares in the company, valued at $1,832,807.34. The disclosure for this sale can be found here. Corporate insiders own 83.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in loanDepot in the first quarter valued at about $47,000. Envestnet Asset Management Inc. purchased a new position in loanDepot in the fourth quarter valued at about $51,000. HRT Financial LP purchased a new position in loanDepot in the first quarter valued at about $32,000. Jump Financial LLC bought a new stake in shares of loanDepot in the fourth quarter valued at approximately $81,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of loanDepot in the third quarter valued at approximately $32,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.