Randian Capital urged LoanDepot (LDI) to explore strategic alternatives in a July 15, 2026, open letter.
The activist firm requested the mortgage lender consider a potential sale to maximize shareholder value.
Randian Capital currently holds economic exposure to more than 250,000 LoanDepot shares.
The firm cited the company's poor stock performance since its 2021 IPO as the primary driver.
LoanDepot shares rose slightly in early trading following the announcement.