loanDepot (NYSE:LDI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of loanDepot (NYSE:LDI) from a sell rating to a hold rating in a research note released on Sunday.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their price target on shares of loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group lifted their target price on loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. Finally, BTIG Research reissued a “neutral” rating on shares of loanDepot in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, loanDepot presently has an average rating of “Reduce” and a consensus price target of $3.00.

loanDepot Trading Up 3.4%

LDI opened at $2.93 on Friday. The company has a debt-to-equity ratio of 6.94, a quick ratio of 1.18 and a current ratio of 1.19. loanDepot has a one year low of $1.01 and a one year high of $5.05. The company has a market cap of $967.97 million, a P/E ratio of -8.12 and a beta of 3.45. The business’s 50-day simple moving average is $3.24 and its 200-day simple moving average is $2.12.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. loanDepot had a negative return on equity of 22.40% and a negative net margin of 6.46%.The firm had revenue of $325.16 million during the quarter, compared to the consensus estimate of $309.20 million. As a group, equities research analysts expect that loanDepot will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony Li Hsieh sold 3,046,005 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $2.64, for a total value of $8,041,453.20. Following the transaction, the chief executive officer owned 4,693,712 shares in the company, valued at $12,391,399.68. The trade was a 39.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 14,587,748 shares of company stock worth $41,685,046 over the last 90 days. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of loanDepot by 5.3% in the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after purchasing an additional 226,347 shares during the period. Philosophy Capital Management LLC grew its position in loanDepot by 73.3% in the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock valued at $4,928,000 after buying an additional 1,751,245 shares during the last quarter. Knightsbridge Asset Management LLC increased its stake in loanDepot by 0.6% in the 1st quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company’s stock valued at $3,696,000 after buying an additional 17,763 shares during the period. Geode Capital Management LLC raised its position in loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after buying an additional 1,104,021 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of loanDepot in the 1st quarter worth $1,469,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

About loanDepot

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.