loanDepot, Inc. (NYSE:LDI) Given Average Rating of “Reduce” by Analysts

Shares of loanDepot, Inc. (NYSE:LDIGet Free Report) have been assigned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $1.9167.

A number of equities research analysts have recently commented on LDI shares. The Goldman Sachs Group set a $1.00 target price on loanDepot in a research note on Monday, August 10th. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Finally, Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th.

Read Our Latest Report on loanDepot

loanDepot Stock Up 0.5%

Shares of NYSE:LDI opened at $0.90 on Monday. The stock has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.44. The stock has a market capitalization of $304.38 million, a price-to-earnings ratio of -3.00 and a beta of 3.37. loanDepot has a 12-month low of $0.83 and a 12-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 10.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. purchased a new stake in shares of loanDepot during the first quarter valued at approximately $44,000. Goldman Sachs Group Inc. raised its holdings in loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock worth $436,000 after acquiring an additional 85,129 shares during the last quarter. Jane Street Group LLC purchased a new position in loanDepot in the 1st quarter worth approximately $122,000. Geode Capital Management LLC lifted its position in loanDepot by 134.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in loanDepot in the 2nd quarter valued at approximately $98,000. Institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

(Get Free Report)

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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Analyst Recommendations for loanDepot (NYSE:LDI)

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