loanDepot (NYSE:LDI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of loanDepot (NYSE:LDI) from a sell rating to a hold rating in a research report released on Sunday.

Other analysts have also recently issued reports about the company. UBS Group upped their target price on loanDepot from $1.90 to $3.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of loanDepot from $1.45 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, October 29th. Finally, BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, loanDepot presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

loanDepot Price Performance

LDI traded up $0.08 during trading on Friday, reaching $2.83. The company’s stock had a trading volume of 6,517,898 shares, compared to its average volume of 3,651,886. The company has a market cap of $936.53 million, a price-to-earnings ratio of -7.86 and a beta of 3.45. The firm has a fifty day simple moving average of $3.21 and a two-hundred day simple moving average of $2.09. loanDepot has a 1 year low of $1.01 and a 1 year high of $5.05. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71.

loanDepot (NYSE:LDI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. loanDepot had a negative return on equity of 21.95% and a negative net margin of 6.46%.The business had revenue of $325.16 million during the quarter, compared to analyst estimates of $309.20 million. As a group, analysts anticipate that loanDepot will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other loanDepot news, CEO Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $2.64, for a total transaction of $8,041,453.20. Following the completion of the sale, the chief executive officer directly owned 4,693,712 shares in the company, valued at $12,391,399.68. This trade represents a 39.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 14,587,748 shares of company stock worth $41,685,046 over the last ninety days. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in loanDepot during the 3rd quarter worth approximately $489,000. AXQ Capital LP purchased a new stake in shares of loanDepot during the third quarter worth $96,000. GSA Capital Partners LLP acquired a new stake in shares of loanDepot in the third quarter valued at $65,000. Vanguard Group Inc. boosted its holdings in loanDepot by 5.3% in the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after purchasing an additional 226,347 shares during the period. Finally, Leisure Capital Management purchased a new position in loanDepot in the third quarter valued at $1,535,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

loanDepot Company Profile

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.