Zacks Research Upgrades loanDepot (NYSE:LDI) to Hold

loanDepot (NYSE:LDI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research report on Tuesday, April 21st. BTIG Research reissued a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $2.38.

loanDepot Price Performance

NYSE:LDI opened at $1.25 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.26. loanDepot has a 52 week low of $1.13 and a 52 week high of $5.05. The stock’s 50-day moving average price is $1.42 and its 200-day moving average price is $1.99. The stock has a market capitalization of $420.59 million, a PE ratio of -3.66 and a beta of 3.31.

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 during the quarter, compared to analyst estimates of $333.29 million. loanDepot had a negative return on equity of 22.35% and a negative net margin of 6.51%. As a group, equities analysts expect that loanDepot will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On loanDepot

Several hedge funds and other institutional investors have recently bought and sold shares of LDI. Millennium Management LLC raised its stake in loanDepot by 622.6% during the third 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 period. UBS Group AG grew its stake in shares of loanDepot by 1,125.1% in the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after buying an additional 1,855,136 shares during the period. Wasatch Advisors LP purchased a new stake in shares of loanDepot in the 4th quarter valued at approximately $3,229,000. Geode Capital Management LLC increased its holdings in shares of 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, Lazard Asset Management LLC acquired a new stake in shares of loanDepot during the 1st quarter worth approximately $1,318,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

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.