loanDepot (NYSE:LDI) Given Neutral Rating at BTIG Research

by · The Cerbat Gem

BTIG Research restated their neutral rating on shares of loanDepot (NYSE:LDI – Free Report) in a research note released on Wednesday,Benzinga reports.

Several other analysts also recently weighed in on LDI. UBS Group boosted their target price on loanDepot from $1.40 to $1.90 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Wall Street Zen downgraded loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, loanDepot has an average rating of “Reduce” and a consensus target price of $2.30.

Check Out Our Latest Stock Report on loanDepot

loanDepot Stock Up 0.8%

loanDepot stock opened at $4.28 on Wednesday. loanDepot has a fifty-two week low of $1.01 and a fifty-two week high of $4.51. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $1.41 billion, a P/E ratio of -12.95 and a beta of 3.38. The stock has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $1.55.

Insider Transactions at loanDepot

In related news, CEO Anthony Li Hsieh sold 3,046,005 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $2.64, for a total value of $8,041,453.20. Following the transaction, the chief executive officer owned 4,693,712 shares in the company, valued at $12,391,399.68. The trade was a 39.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 13,120,160 shares of company stock valued at $34,112,201. Insiders own 78.05% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several institutional investors have recently added to or reduced their stakes in LDI. Philosophy Capital Management LLC increased its position in loanDepot by 73.3% during the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company’s stock worth $4,928,000 after purchasing an additional 1,751,245 shares during the period. Knightsbridge Asset Management LLC increased its position in loanDepot by 0.6% during the 1st quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company’s stock worth $3,696,000 after purchasing an additional 17,763 shares during the period. Geode Capital Management LLC increased its position in loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after purchasing an additional 1,104,021 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in loanDepot during the 1st quarter worth approximately $1,469,000. Finally, Wolverine Asset Management LLC increased its position in loanDepot by 15.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,178,649 shares of the company’s stock worth $1,497,000 after purchasing an additional 158,739 shares during the period. Institutional investors and hedge funds own 39.39% of the company’s stock.

About loanDepot

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loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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