loanDepot (NYSE:LDI) Stock Price Up 9.6% – Here’s Why
by Renee Jackson · The Cerbat GemloanDepot, Inc. (NYSE:LDI – Get Free Report)’s share price shot up 9.6% during trading on Friday . The stock traded as high as $1.81 and last traded at $1.7860. 483,820 shares were traded during trading, a decline of 85% from the average session volume of 3,175,685 shares. The stock had previously closed at $1.63.
Analysts Set New Price Targets
LDI has been the subject of several recent analyst reports. The Goldman Sachs Group set a $2.40 price target on loanDepot in a research note on Tuesday, January 6th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Thursday, January 22nd. Finally, Zacks Research lowered shares of loanDepot from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, loanDepot currently has a consensus rating of “Strong Sell” and a consensus price target of $2.38.
Get Our Latest Stock Report on loanDepot
loanDepot Trading Up 12.0%
The company has a market capitalization of $611.43 million, a P/E ratio of -6.29 and a beta of 3.55. The company has a 50-day simple moving average of $1.71 and a 200 day simple moving average of $2.35. The company has a debt-to-equity ratio of 8.22, a quick ratio of 1.14 and a current ratio of 1.14.
loanDepot (NYSE:LDI – Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%.The company had revenue of $316.27 million during the quarter, compared to analyst estimates of $333.29 million. Sell-side analysts expect that loanDepot, Inc. will post -0.23 earnings per share for the current year.
Institutional Investors Weigh In On loanDepot
A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new position in loanDepot in the 1st quarter valued at approximately $44,000. Goldman Sachs Group Inc. raised its stake in shares of loanDepot by 30.3% in the first quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after purchasing an additional 85,129 shares in the last quarter. Jane Street Group LLC bought a new position in loanDepot in the first quarter worth $122,000. Geode Capital Management LLC boosted its stake in loanDepot by 134.4% during the second 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 in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in loanDepot in the 2nd quarter valued at $98,000. 39.39% of the stock is owned by institutional investors and hedge funds.
About loanDepot
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.