loanDepot (NYSE:LDI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of loanDepot (NYSE:LDI) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $2.00.

loanDepot Trading Down 0.5%

Shares of LDI opened at $1.00 on Wednesday. The stock’s fifty day simple moving average is $1.16 and its 200 day simple moving average is $1.59. The firm has a market capitalization of $339.51 million, a P/E ratio of -2.96 and a beta of 3.33. loanDepot has a twelve month low of $0.93 and a twelve month high of $5.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26.

Hedge Funds Weigh In On loanDepot

Several institutional investors have recently made changes to their positions in LDI. Millennium Management LLC lifted its holdings in shares of loanDepot by 622.6% in the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares during the last quarter. UBS Group AG boosted its holdings in shares of loanDepot by 1,125.1% during the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after acquiring an additional 1,855,136 shares during the period. Wasatch Advisors LP bought a new stake in loanDepot in the 4th quarter valued at about $3,229,000. Geode Capital Management LLC boosted its stake in loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,104,021 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in loanDepot during the 1st quarter valued at about $1,318,000. 39.39% of the stock is owned by 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.