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

by · The Cerbat Gem

Wall Street Zen lowered shares of loanDepot (NYSE:LDI – Free Report) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on LDI. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, loanDepot has a consensus rating of “Reduce” and a consensus target price of $1.38.

Check Out Our Latest Stock Report on LDI

loanDepot Stock Performance

loanDepot stock opened at $0.60 on Friday. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. loanDepot has a 12 month low of $0.48 and a 12 month high of $3.24. The company has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $1.30. The company has a market cap of $203.71 million, a PE ratio of -2.01 and a beta of 3.45.

Insider Activity

In related news, CEO Anthony Hsieh acquired 60,208 shares of loanDepot stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average price of $0.92 per share, for a total transaction of $55,391.36. Following the transaction, the chief executive officer directly owned 1,000,000 shares of the company’s stock, valued at $920,000. This trade represents a 6.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 1,000,000 shares of company stock valued at $911,936. Company insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LDI. Citizens Financial Group Inc. RI boosted its holdings in shares of loanDepot by 148.6% during the third quarter. Citizens Financial Group Inc. RI now owns 329,017 shares of the company’s stock valued at $194,000 after acquiring an additional 196,682 shares during the period. Squarepoint Ops LLC bought a new position in shares of loanDepot during the second quarter worth about $70,000. Requisite Capital Management LLC increased its holdings in shares of loanDepot by 200.0% in the 2nd quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock worth $75,000 after acquiring an additional 40,000 shares during the period. Cullen Capital Management LLC acquired a new stake in shares of loanDepot in the 2nd quarter worth about $347,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of loanDepot in the 2nd quarter worth about $359,000. 39.39% of the stock is currently owned by institutional investors.

loanDepot Company Profile

(Get Free Report)

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.

See Also