loanDepot (NYSE:LDI – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks reports.
A number of other equities research analysts have also recently issued reports on LDI. Wall Street Zen cut loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Bank of America restated an “underperform” rating on shares of loanDepot in a report on Tuesday. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of loanDepot from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, loanDepot has a consensus rating of “Strong Sell” and a consensus target price of $1.38.
Read Our Latest Stock Analysis on LDI
loanDepot Stock Performance
Shares of NYSE LDI opened at $0.44 on Wednesday. The company has a debt-to-equity ratio of 11.32, a quick ratio of 1.11 and a current ratio of 1.09. The stock has a 50 day moving average price of $0.64 and a 200 day moving average price of $1.21. The stock has a market capitalization of $149.99 million, a PE ratio of -1.23 and a beta of 3.56. loanDepot has a 52 week low of $0.44 and a 52 week high of $3.24.
Insider Activity at loanDepot
In related news, CEO Anthony Hsieh purchased 60,208 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $0.92 per share, for a total transaction of $55,391.36. Following the purchase, the chief executive officer owned 1,000,000 shares in the company, valued at approximately $920,000. This represents a 6.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 1,000,000 shares of company stock worth $911,936. Insiders own 65.90% of the company’s stock.
Institutional Investors Weigh In On loanDepot
Several hedge funds have recently bought and sold shares of LDI. Citizens Financial Group Inc. RI grew its position in shares of loanDepot by 148.6% in the third quarter. Citizens Financial Group Inc. RI now owns 329,017 shares of the company’s stock valued at $194,000 after purchasing an additional 196,682 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of loanDepot during the second quarter worth approximately $70,000. Requisite Capital Management LLC lifted its holdings in loanDepot by 200.0% during the 2nd quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock worth $75,000 after purchasing an additional 40,000 shares during the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot during the 2nd quarter worth approximately $347,000. Finally, Bank of New York Mellon Corp bought a new stake in loanDepot in the 2nd quarter valued at $359,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.
loanDepot Company Profile
loanDepot, Inc. is a U.S.-based mortgage lender that provides home loans to consumers. Its offerings include mortgages for home purchases and refinancing, delivered through its retail branches and digital channels. The company also works with mortgage brokers and other lending partners and provides mortgage servicing. Its technology platform supports the application and loan-management process. Founded in 2010 by mortgage entrepreneur Anthony Hsieh, loanDepot serves customers across the United States.
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