loanDepot, Inc. (NYSE:LDI) Short Interest Update

loanDepot, Inc. (NYSE:LDI) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,445,817 shares, a growth of 20.7% from the February 26th total of 11,972,635 shares. Based on an average daily volume of 3,169,535 shares, the short-interest ratio is presently 4.6 days. Currently, 25.4% of the company’s stock are sold short.

loanDepot Stock Down 0.4%

Shares of LDI traded down $0.01 on Wednesday, reaching $1.42. The company’s stock had a trading volume of 739,972 shares, compared to its average volume of 3,426,279. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22. loanDepot has a twelve month low of $1.01 and a twelve month high of $5.05. The stock has a market capitalization of $474.07 million, a PE ratio of -4.88, a PEG ratio of 0.42 and a beta of 3.47. The firm has a fifty day moving average of $1.93 and a 200-day moving average of $2.53.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $316.27 million for the quarter, compared to analyst estimates of $333.29 million. loanDepot had a negative net margin of 5.27% and a negative return on equity of 18.29%. Equities analysts predict that loanDepot will post -0.23 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on LDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $2.40 price objective on loanDepot in a report on Tuesday, January 6th. BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Finally, Zacks Research cut loanDepot from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of $2.38.

Insider Activity

In other news, CEO Anthony Li Hsieh sold 884,495 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 83.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its stake in loanDepot by 8,934.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock valued at $28,000 after acquiring an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. bought a new stake in shares of loanDepot in the 3rd quarter worth $31,000. CWM LLC bought a new stake in shares of loanDepot in the 3rd quarter worth $32,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of loanDepot in the third quarter valued at about $31,000. Finally, Russell Investments Group Ltd. bought a new position in shares of loanDepot during the third quarter valued at about $35,000. Institutional investors 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.