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Anthony Hsieh, a director and ten percent owner at loanDepot, Inc. (NYSE:LDI), recently sold a significant portion of his holdings in the company. According to a recent filing, Hsieh sold 436,248 shares of Class A Common Stock at a weighted average price of $1.50 per share, totaling approximately $654,372. The sale comes as LDI trades near $1.42, down over 50% in the past six months, with analysts setting price targets between $1.35 and $3.00.
Following this transaction, Hsieh retains ownership of 6,093,712 shares held indirectly through the JLSSAA Trust, over which he has voting and investment power. Additionally, the report detailed other transactions, including the acquisition and disposal of shares through various entities, but these were not direct buy or sell transactions and involved no monetary exchange. The company, currently valued at $457 million, shows weak financial health according to InvestingPro metrics.
Investors may take note of these movements as part of their broader assessment of loanDepot’s stock performance and insider activity. InvestingPro analysis reveals 8 additional key insights about LDI’s financial health and market position, available in the comprehensive Pro Research Report.
In other recent news, LoanDepot Inc. reported disappointing financial results for the fourth quarter of 2024. The company posted an earnings per share (EPS) of -$0.17, which fell significantly short of the forecasted EPS of -$0.01. Revenue also missed expectations, coming in at $257 million compared to the anticipated $310.09 million. Despite these setbacks, LoanDepot reported a 34% year-over-year increase in loan origination volume, reaching $7.2 billion. The company completed its Vision 2025 strategic program and introduced a new initiative called Project NorthStar, aimed at future growth.
In terms of future expectations, LoanDepot anticipates pull-through weighted lock volume for Q1 2025 to be between $4.8 billion and $5.8 billion, with origination volume expected to range from $4.5 billion to $5.5 billion. The company continues to invest in technology and joint ventures, which are seen as key areas for growth. Additionally, during the earnings call, LoanDepot highlighted its focus on maintaining high liquidity levels and strategic asset management. Despite the challenging mortgage market, the company remains optimistic about its positioning for future recovery.
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