loanDepot (NYSE:LDI) Rating Increased to Hold at Zacks Research

loanDepot (NYSE:LDI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $2.38.

loanDepot Trading Down 1.2%

LDI opened at $1.25 on Monday. loanDepot has a 52 week low of $1.13 and a 52 week high of $5.05. The stock’s fifty day moving average is $1.42 and its two-hundred day moving average is $1.99. The company has a market capitalization of $420.59 million, a P/E ratio of -3.66 and a beta of 3.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.26.

loanDepot (NYSE:LDI) last announced its quarterly earnings results 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 net margin of 6.51% and a negative return on equity of 22.35%. The company had revenue of $316.27 million during the quarter, compared to analysts’ expectations of $333.29 million. Analysts forecast that loanDepot will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LDI. SG Americas Securities LLC purchased a new position in loanDepot during the 4th quarter worth $26,000. Jones Financial Companies Lllp grew its stake in loanDepot by 8,934.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after buying an additional 8,934 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in loanDepot during the 3rd quarter worth $31,000. Sincerus Advisory LLC purchased a new position in loanDepot during the 4th quarter worth $33,000. Finally, Russell Investments Group Ltd. purchased a new position in loanDepot during the 3rd quarter worth $35,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

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.