loanDepot (NYSE:LDI) Issues Earnings Results, Misses Estimates By $0.06 EPS

loanDepot (NYSE:LDI) posted its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06), FiscalAI reports. The business had revenue of $316.27 million during the quarter, compared to analysts’ expectations of $333.29 million. loanDepot had a negative net margin of 6.46% and a negative return on equity of 22.40%.

loanDepot Price Performance

NYSE LDI traded up $0.08 during trading hours on Tuesday, reaching $1.91. The company’s stock had a trading volume of 3,763,463 shares, compared to its average volume of 3,612,437. The firm has a market capitalization of $634.82 million, a price-to-earnings ratio of -5.29, a P/E/G ratio of 0.41 and a beta of 3.47. loanDepot has a 1-year low of $1.01 and a 1-year high of $5.05. The company has a debt-to-equity ratio of 6.94, a current ratio of 1.19 and a quick ratio of 1.19. The company’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.66.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Thursday, January 22nd. The Goldman Sachs Group set a $2.40 price objective on loanDepot in a research report on Tuesday, January 6th. Finally, Bank of America set a $1.75 price objective on shares of loanDepot in a research note on Monday, December 1st. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.38.

Insider Buying and Selling

In other news, CEO Anthony Li Hsieh sold 884,495 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,830,815 shares of company stock valued at $7,182,662 over the last quarter. 83.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. grew its position in shares of loanDepot by 227.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 49,381 shares of the company’s stock valued at $102,000 after purchasing an additional 34,305 shares during the period. New York State Common Retirement Fund acquired a new position in shares of loanDepot during the 2nd quarter worth about $98,000. Quadrature Capital Ltd purchased a new position in loanDepot in the 4th quarter valued at about $90,000. Sei Investments Co. purchased a new position in loanDepot in the 3rd quarter valued at about $88,000. Finally, Raymond James Financial Inc. boosted its holdings in loanDepot by 315.1% in the 3rd quarter. Raymond James Financial Inc. now owns 28,628 shares of the company’s stock worth $88,000 after buying an additional 21,732 shares during the last quarter. Institutional investors and hedge funds own 39.39% of the company’s stock.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.