Short Interest on LoanDepot, Inc. (NYSE: LDI) Increases 46.5%


LoanDepot, Inc. (NYSE: LDI) was the target of a sharp increase in short-term interest during the month of August. As of August 31, there was short interest totaling 346,800 shares, an increase of 46.5% from the total of 236,700 shares as of August 15. About 2.3% of the company’s shares are sold short. Based on an average daily volume of 325,500 shares, the short-term interest rate is currently 1.1 days.

Meanwhile, director Michael Linton bought 7,520 shares of the company in a transaction that took place on Friday August 6. The shares were purchased at an average price of $ 9.43 per share, for a total value of $ 70,913.60. The transaction was disclosed in a document filed with the SEC, which is available at this link.

A number of large investors have recently changed their positions in LDI. Evoke Wealth LLC purchased a new equity stake in LoanDepot during the second quarter valued at $ 26,000. UBS Group AG purchased a new stake in LoanDepot shares during the first quarter valued at $ 108,000. HighTower Advisors LLC purchased a new equity stake in LoanDepot during the first quarter valued at $ 207,000. Advisor Group Holdings Inc. increased its stake in LoanDepot shares by 417.2% during the second quarter. Advisor Group Holdings Inc. now owns 11,301 shares of the company valued at $ 145,000 after purchasing an additional 9,116 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in LoanDepot shares during the second quarter valued at $ 163,000. 0.99% of the shares are currently held by institutional investors and hedge funds.

LDI has been the subject of a number of research analyst reports. Jefferies Financial Group lowered its price target on LoanDepot from $ 30.00 to $ 18.00 and set a “buy” rating on the stock in a report released on Monday, July 12. Bank of America reduced its price target on LoanDepot from $ 13.00 to $ 8.00 and established an “underperformance” rating for the company in a research report released on Monday, August 23. Raymond James reduced his price target on LoanDepot from $ 22.00 to $ 11.00 and established an “outperformance” rating for the company in a research report published on Wednesday, August 4. Morgan Stanley reduced its price target on LoanDepot from $ 14.00 to $ 10.00 and set an “equal weight” rating for the company in a research report released on Wednesday, August 4. Finally, Zacks Investment Research upgraded LoanDepot from a “sell” rating to a “hold” rating in a research report released on Tuesday, June 29. One research analyst rated the stock with a sell rating, six gave a conservation rating, and eight gave the company’s stock a buy rating. According to MarketBeat data, the company currently has a consensus rating of “Hold” and a consensus price target of $ 17.23.

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LDI stock opened at $ 7.25 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt ratio of 1.46. LoanDepot has a one-year low of $ 7.12 and a one-year high of $ 39.85. The company’s 50-day moving average is $ 9.33 and its 200-day moving average is $ 14.35.

LoanDepot (NYSE: LDI) last released its quarterly results on Tuesday, August 3. The company reported earnings of $ 0.18 per share for the quarter, missing analyst consensus estimates of $ 0.44 per ($ 0.26). The company posted revenue of $ 779.91 million for the quarter, compared to a consensus estimate of $ 886.68 million. On average, analysts expect LoanDepot to post earnings per share of 1.83 for the current year.

About LoanDepot

LoanDepot, Inc deals with the origination and management of conventional and government mortgages in the United States. It offers conventional agency compliant and blue chip loans, home equity loans, Federal Housing Administration loans, and VA loans. The company also provides settlement services, which include captive securities and escrow transactions; real estate services covering captive real estate reference activities; and insurance services, including homeowner services, as well as other consumer insurance policies.

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