loanDepot, Inc. (NYSE:LDI) Receives $2.38 Consensus Price Target from Analysts

Shares of loanDepot, Inc. (NYSE:LDI) have been assigned an average rating of “Strong Sell” from the five research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.3833.

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Thursday, January 22nd. The Goldman Sachs Group set a $2.40 target price on shares of loanDepot in a research report on Tuesday, January 6th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Finally, Zacks Research lowered shares of loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th.

loanDepot Stock Performance

Shares of LDI stock opened at $1.78 on Tuesday. loanDepot has a 12-month low of $1.02 and a 12-month high of $5.05. The firm has a market capitalization of $594.68 million, a price-to-earnings ratio of -6.12 and a beta of 3.55. The business has a 50 day simple moving average of $1.69 and a 200 day simple moving average of $2.33. The company has a debt-to-equity ratio of 8.22, a current ratio of 1.14 and a quick ratio of 1.14.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $316.27 million during the quarter, compared to the consensus estimate of $333.29 million.

Hedge Funds Weigh In On loanDepot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in loanDepot by 8,934.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock valued at $28,000 after buying an additional 8,934 shares in the last quarter. Traynor Capital Management Inc. bought a new position in loanDepot in the 3rd quarter valued at about $31,000. CWM LLC bought a new position in loanDepot in the 3rd quarter valued at about $32,000. Wealth Enhancement Advisory Services LLC bought a new position in loanDepot in the 3rd quarter valued at about $31,000. Finally, Russell Investments Group Ltd. bought a new position in loanDepot in the 3rd quarter valued at about $35,000. Institutional investors own 39.39% of the company’s stock.

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.