Zacks Research downgraded shares of loanDepot (NYSE:LDI – Free Report) from a hold rating to a strong sell rating in a research note released on Thursday,Zacks.com reports.
A number of other research firms also recently commented on LDI. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus target price of $1.92.
View Our Latest Stock Analysis on loanDepot
loanDepot Stock Down 1.5%
Insiders Place Their Bets
In related news, CEO Anthony Li Hsieh purchased 38,612 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $0.94 per share, with a total value of $36,295.28. Following the transaction, the chief executive officer owned 794,427 shares of the company’s stock, valued at approximately $746,761.38. This trade represents a 5.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 794,427 shares of company stock worth $719,902. 65.90% of the stock is currently owned by company insiders.
Institutional Trading of loanDepot
A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in loanDepot by 0.4% during the fourth quarter. State Street Corp now owns 1,640,154 shares of the company’s stock worth $3,395,000 after acquiring an additional 5,800 shares during the period. LPL Financial LLC raised its position in 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 acquiring an additional 6,321 shares in the last quarter. Harbour Investments Inc. lifted its holdings in loanDepot by 94.7% in the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after acquiring an additional 8,522 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in loanDepot by 26.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock valued at $109,000 after acquiring an additional 11,003 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in loanDepot in the 3rd quarter worth approximately $35,000. Hedge funds and other 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.
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