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

loanDepot, Inc. (NYSE:LDI) shares 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 trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered their price objective 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 market capitalization of $756.03 million, a PE ratio of -3.71 and a beta of 3.13. 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’s 50 day moving average is $2.51 and its two-hundred day moving average is $2.32.

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

Insiders Place Their Bets

In other news, Director Dan Binowitz sold 13,900 shares of the company’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 owns 783,251 shares in the company, valued at $1,832,807.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jeff Alexander Walsh sold 39,284 shares of the company’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 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 is accessible through this hyperlink. Also, Director Dan Binowitz sold 13,900 shares of the company’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 owns 783,251 shares in the company, valued at approximately $1,832,807.34. The disclosure for this sale can be found here. 83.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

Hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in loanDepot in the third quarter valued at approximately $32,000. HRT Financial LP purchased a new position in shares of loanDepot during the 1st quarter valued at approximately $32,000. Envestnet Asset Management Inc. purchased a new position in shares of loanDepot during the 2nd quarter valued at approximately $33,000. Jane Street Group LLC raised its stake in loanDepot by 26.2% in the 2nd quarter. Jane Street Group LLC now owns 27,513 shares of the company’s stock valued at $40,000 after purchasing an additional 5,711 shares during the last quarter. Finally, LPL Financial LLC raised its stake in loanDepot by 106.0% in the 4th quarter. LPL Financial LLC now owns 26,297 shares of the company’s stock valued at $43,000 after purchasing an additional 13,530 shares during the last quarter. 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.