In a recent transaction, Anthony Li Hsieh, a director and ten percent owner of loanDepot, Inc. (NYSE:LDI), sold a significant number of shares in the company. Investors were notified that on May 17, Hsieh sold 198,866 shares of Class A Common Stock at an average price of $2.1954, totaling approximately $436,590. The shares were sold in various transactions with prices ranging from $2.13 to $2.235.
Following the sale, Hsieh still holds a substantial position in the company with 3,590,891 shares, as indicated by the report. The shares sold were held indirectly by The JLSSAA Trust, for which Hsieh has voting and investment power as trustee.
This sale could be of interest to investors tracking insider activity as a signal of the company's financial health and future prospects. Shareholders and potential investors in loanDepot can request specific trade amounts and pricing details from Hsieh, as he has agreed to provide this information upon request.
loanDepot, Inc., based in Irvine, California, operates in the finance services sector. The company has experienced a dynamic market presence and has been closely watched by investors interested in the financial services industry.
InvestingPro Insights
As loanDepot, Inc. (NYSE:LDI) navigates the financial services landscape, recent insider trading activity has put the company under the investor's microscope. To provide a broader context, InvestingPro data and tips offer a snapshot of the company's current financial status and market performance.
InvestingPro data reveals that loanDepot has a market capitalization of $680.6 million, indicating its size within the finance services sector. The company's P/E ratio stands at -3.68, reflecting its earnings relative to share price, which may be a concern for value-focused investors. Moreover, the company's revenue growth over the last twelve months as of Q1 2024 is reported at 9.39%, signaling a positive trend in top-line performance despite a quarterly dip of -20.14% in revenue growth for Q1 2024.
Two InvestingPro Tips that may be particularly relevant in light of the recent insider sale are:
- Analysts have lowered their earnings expectations for loanDepot, suggesting that the market anticipates challenges ahead.
- The stock price has experienced significant decline over the past three months, which could be a red flag for investors considering the company's future prospects.
These insights are a mere glimpse into the extensive analysis available on InvestingPro, which lists additional tips that could further inform investment decisions. Interested readers can explore more in-depth analysis and tips for loanDepot at InvestingPro, and take advantage of a special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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