loanDepot (NYSE:LDI) Rating Lowered to Strong Sell at Zacks Research

loanDepot (NYSE:LDI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on LDI. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, BTIG Research reissued a “neutral” rating on shares of loanDepot in a research note on Wednesday, March 11th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, loanDepot presently has a consensus rating of “Strong Sell” and an average price target of $2.38.

loanDepot Stock Performance

NYSE:LDI opened at $1.26 on Tuesday. The stock has a market cap of $427.34 million, a P/E ratio of -3.72 and a beta of 3.33. loanDepot has a 1-year low of $1.09 and a 1-year high of $5.05. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.76.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of LDI. State Street Corp lifted its holdings in shares of loanDepot by 0.4% during the 4th quarter. State Street Corp now owns 1,640,154 shares of the company’s stock valued at $3,395,000 after buying an additional 5,800 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of loanDepot by 8.3% during the 4th quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock worth $170,000 after buying an additional 6,321 shares during the period. Harbour Investments Inc. grew its stake in loanDepot by 94.7% in the 4th quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after buying an additional 8,522 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of loanDepot by 26.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock valued at $109,000 after purchasing an additional 11,003 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in loanDepot in the 3rd quarter worth approximately $35,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.