loanDepot (NYSE:LDI) Shares Gap Down – Here’s Why

loanDepot, Inc. (NYSE:LDI) gapped down prior to trading on Monday . The stock had previously closed at $1.79, but opened at $1.72. loanDepot shares last traded at $1.7650, with a volume of 392,449 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research note on Thursday, January 22nd. Zacks Research lowered shares of loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. BTIG Research restated a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Finally, The Goldman Sachs Group set a $2.40 price target on shares of loanDepot in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, loanDepot presently has an average rating of “Strong Sell” and a consensus target price of $2.38.

loanDepot Stock Performance

The stock has a fifty day moving average price of $1.68 and a two-hundred day moving average price of $2.32. The company has a market cap of $571.23 million, a P/E ratio of -5.88 and a beta of 3.55. The company has a debt-to-equity ratio of 8.22, a current ratio of 1.14 and a quick ratio of 1.14.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative net margin of 5.27% and a negative return on equity of 18.29%.

Institutional Investors Weigh In On loanDepot

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of loanDepot by 0.4% during the fourth 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 raised its holdings in shares of loanDepot by 8.3% during the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock valued at $170,000 after buying an additional 6,321 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of loanDepot by 94.7% during the fourth 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. Jones Financial Companies Lllp raised its holdings in shares of loanDepot by 8,934.0% during the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock valued at $28,000 after buying an additional 8,934 shares during the last quarter. Finally, Traynor Capital Management Inc. bought a new stake in shares of loanDepot during the third quarter valued at approximately $31,000. Institutional investors own 39.39% of the company’s stock.

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.