loanDepot (NYSE:LDI) Rating Lowered to “Sell” at Wall Street Zen

loanDepot (NYSE:LDI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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

loanDepot Stock Performance

NYSE LDI opened at $3.01 on Friday. The stock has a market cap of $994.44 million, a P/E ratio of -9.11 and a beta of 3.45. The company’s 50-day simple moving average is $3.13 and its 200 day simple moving average is $2.03. loanDepot has a twelve month low of $1.01 and a twelve month high of $5.05. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71.

Insider Activity

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $2.64, for a total transaction of $8,041,453.20. Following the transaction, the chief executive officer directly owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. This represents a 39.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 14,587,748 shares of company stock worth $41,685,046 in the last quarter. 83.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

A number of large investors have recently modified their holdings of LDI. Capstone Financial Advisors Inc. lifted its position in shares of loanDepot by 60.0% during the first quarter. Capstone Financial Advisors Inc. now owns 40,000 shares of the company’s stock worth $48,000 after purchasing an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of loanDepot by 1,671.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company’s stock worth $780,000 after purchasing an additional 618,153 shares in the last quarter. Invesco Ltd. acquired a new position in shares of loanDepot during the first quarter worth approximately $44,000. Persistent Asset Partners Ltd acquired a new position in shares of loanDepot during the first quarter worth approximately $145,000. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in loanDepot by 122.2% in the first quarter. Focus Partners Advisor Solutions LLC now owns 100,000 shares of the company’s stock valued at $119,000 after buying an additional 55,000 shares during the period. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Company Profile

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.