Brokerages Set loanDepot, Inc. (NYSE:LDI) PT at $1.92

Shares of loanDepot, Inc. (NYSE:LDI) have been given an average rating of “Strong Sell” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $1.9167.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group set a $1.00 price objective on loanDepot in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Finally, Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th.

Insider Transactions at loanDepot

In related news, CEO Anthony Hsieh purchased 60,208 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was acquired at an average price of $0.92 per share, with a total value of $55,391.36. Following the purchase, the chief executive officer directly owned 1,000,000 shares in the company, valued at approximately $920,000. This represents a 6.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 1,000,000 shares of company stock worth $911,936 in the last three months. Insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in loanDepot by 94.7% during the 4th quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after acquiring an additional 8,522 shares in the last quarter. Bank of New York Mellon Corp grew its stake in loanDepot by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 248,355 shares of the company’s stock worth $353,000 after purchasing an additional 23,769 shares during the period. Citizens Financial Group Inc. RI raised its holdings in loanDepot by 72.2% in the first quarter. Citizens Financial Group Inc. RI now owns 67,952 shares of the company’s stock worth $96,000 after purchasing an additional 28,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in loanDepot in the fourth quarter worth $73,000. Finally, Requisite Capital Management LLC lifted its position in loanDepot by 200.0% during the second quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock valued at $75,000 after buying an additional 40,000 shares during the period. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Price Performance

loanDepot stock opened at $0.72 on Friday. The firm has a market capitalization of $244.92 million, a P/E ratio of -2.42 and a beta of 3.40. loanDepot has a one year low of $0.68 and a one year high of $4.51. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $0.94 and a 200-day moving average price of $1.24.

loanDepot Company Profile

loanDepot, Inc is a U.S.-based digital mortgage lender that originates residential home loans for home purchases and refinancings. The company serves borrowers through online and direct-to-consumer channels, as well as mortgage professionals and other lending partners.

Its mortgage products have included conventional conforming loans, government-backed Federal Housing Administration and Department of Veterans Affairs loans, jumbo mortgages and other residential financing solutions. loanDepot has also offered home equity products and technology designed to streamline the mortgage application, underwriting and closing process.

Founded in 2010 by Anthony Hsieh, loanDepot is headquartered in California and serves customers throughout the United States.