LoanDepot, Inc. (NYSE:LDI) director Anthony Hsieh has sold a total of 100,000 shares of the company’s Class A Common Stock, according to a recent SEC filing. The transactions, which occurred over two consecutive days, amounted to over $180,000 in total value.
On May 30, 2024, Hsieh sold 50,000 shares at a weighted average price of $1.8059, and the following day, he sold another 50,000 shares at a weighted average price of $1.8106. These sales were executed in multiple transactions with prices ranging from $1.80 to $1.82, as detailed in the footnotes of the filing.
Following these transactions, Hsieh, who serves as a director and a ten percent owner of loanDepot, continues to indirectly control 2,906,605 shares through The JLSSAA Trust. As the trustee, Hsieh holds voting and investment power over the assets of the Trust.
The sales by Hsieh come at a time when investors closely monitor insider transactions for insights into the company's performance and potential future direction. LoanDepot, a finance services company headquartered in Irvine, California, is a notable player in the lending industry.
Investors and those interested in the specifics of the transactions can request detailed trade amounts and prices from the reporting person, as mentioned in the footnotes of the SEC filing. The information provided is a testament to the transparency and regulatory compliance upheld by company insiders and the broader financial community.
This disclosure is part of the routine filing requirements for company insiders and provides the public with a glimpse into their trading activities. It's important for investors to consider such transactions as part of a broader investment strategy and in the context of the company's overall performance and market trends.
InvestingPro Insights
Amidst the recent insider transactions at LoanDepot, Inc. (NYSE:LDI), where director Anthony Hsieh sold a significant number of shares, investors may be seeking a deeper understanding of the company's financial health and market performance. Insights from InvestingPro provide a clearer picture of the company's current standing:
LoanDepot's market capitalization stands at $326.25 million, reflecting its valuation in the market. However, the company's price-to-earnings (P/E) ratio is currently negative at -3.1, indicating that it has been unprofitable over the last twelve months as of Q1 2024. This is further evidenced by the company's operating income margin of -29.43%, suggesting that LoanDepot has been facing challenges in generating profits from its operations.
The company's stock price has also experienced significant volatility, with a one-month price total return of -22.41% and a three-month price total return of -34.78%, underscoring the fluctuations in its share value.
InvestingPro Tips for LoanDepot highlight that analysts are not optimistic about the company's profitability in the near term, with four analysts having revised their earnings downwards for the upcoming period. Additionally, the company's stock has fared poorly over the last month, and it has been quickly burning through cash. These factors may be crucial for investors to consider, especially in light of the recent insider selling.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, there are currently 10 more tips available for LoanDepot at https://www.investing.com/pro/LDI. Those interested in a deeper dive into the company's financials and market performance can take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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