loanDepot (NYSE:LDI) Shares Gap Down to $2.28

loanDepot, Inc. (NYSE:LDI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.28, but opened at $2.03. loanDepot shares last traded at $2.18, with a volume of 127,941 shares.

Analysts Set New Price Targets

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

loanDepot Stock Up 0.5 %

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 company has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.40. The firm has a market cap of $697.87 million, a P/E ratio of -3.43 and a beta of 3.13.

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

Insider Transactions at loanDepot

In related news, Director Dan Binowitz sold 13,900 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2.34, for a total value of $32,526.00. Following the transaction, the director now directly owns 783,251 shares of the company’s stock, valued at approximately $1,832,807.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in LDI. Cannell Capital LLC increased its stake in loanDepot by 19.5% in the third quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock worth $9,282,000 after purchasing an additional 879,650 shares during the period. CastleKnight Management LP bought a new stake in loanDepot during the 4th quarter valued at about $1,644,000. Wolverine Asset Management LLC boosted its position in loanDepot by 58.8% in the 4th quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock valued at $3,773,000 after buying an additional 397,095 shares during the period. G2 Investment Partners Management LLC bought a new position in loanDepot in the 4th quarter worth about $792,000. Finally, Knightsbridge Asset Management LLC increased its position in shares of loanDepot by 6.6% during the third quarter. Knightsbridge Asset Management LLC now owns 2,800,039 shares of the company’s stock worth $4,816,000 after acquiring an additional 172,802 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.