LoanDepot, Inc. (NYSE:LDI) director Anthony Li Hsieh has sold a significant amount of company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on May 15 and 16, 2024, involved the sale of 423,567 shares of LoanDepot's Class A Common Stock for a total of approximately $917,272.
On the first day, Hsieh sold 105,591 shares at a weighted average price of $2.177. The sale was part of multiple transactions with prices ranging from $2.145 to $2.245 per share. The following day, he sold an additional 317,976 shares at a weighted average price of $2.1618, with individual sales prices varying from $2.12 to $2.203.
After these transactions, Hsieh's indirect ownership through the JLSSAA Trust, for which he serves as trustee with voting and investment power, was reported to be 3,789,757 shares. Additionally, he directly owns 74,894 shares of Class A Common Stock.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health and future prospects. The sales by Hsieh represent a notable change in his investment in LoanDepot, and the market may watch closely for any potential impact on the company's stock performance.
InvestingPro Insights
Following the significant insider sale by LoanDepot, Inc. (NYSE:LDI) director Anthony Li Hsieh, investors are keenly observing the company's financial metrics and performance. According to real-time data from InvestingPro, LoanDepot has a market capitalization of $695.15 million, underscoring its mid-sized presence in the industry. The company's price-to-earnings (P/E) ratio stands at -3.8, reflecting its current lack of profitability, a detail that aligns with the InvestingPro Tips which highlight that analysts do not expect the company to be profitable this year and that it has not been profitable over the last twelve months.
Moreover, LoanDepot's revenue growth for the last twelve months, as of Q1 2024, was 9.39%, suggesting some positive business momentum. However, the quarterly revenue growth experienced a decline of -20.14% in Q1 2024, indicating potential challenges in the company's recent performance. The gross profit margin remains high at 89.55%, which is a strong point for the company's operational efficiency.
Investors should note that LoanDepot's share price has seen a large uptick of 25.71% over the last six months, as per InvestingPro Tips, which could be a sign of recovering investor confidence or market conditions favoring the company's sector. Nevertheless, the company does not pay a dividend, which might be less attractive for income-focused investors.
Those interested in a deeper dive into LoanDepot's metrics and future outlook can find additional InvestingPro Tips by visiting https://www.investing.com/pro/LDI. As an added benefit, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a total of 7 valuable tips that could help in making more informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.