loanDepot, Inc. (NYSE:LDI) Receives Average Recommendation of “Reduce” from Brokerages

loanDepot, Inc. (NYSE:LDI) has earned a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $1.9167.

A number of analysts recently commented on LDI shares. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Finally, The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th.

Institutional Investors Weigh In On loanDepot

Several hedge funds have recently made changes to their positions in LDI. State Street Corp increased its stake in shares of loanDepot by 0.4% in the 4th quarter. State Street Corp now owns 1,640,154 shares of the company’s stock worth $3,395,000 after acquiring an additional 5,800 shares in the last quarter. LPL Financial LLC boosted its stake in loanDepot by 8.3% during the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock worth $170,000 after acquiring an additional 6,321 shares in the last quarter. Harbour Investments Inc. boosted its stake in loanDepot by 94.7% during the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock worth $36,000 after acquiring an additional 8,522 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in loanDepot by 26.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock worth $109,000 after purchasing an additional 11,003 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in loanDepot in the third quarter worth about $35,000. 39.39% of the stock is currently owned by institutional investors.

loanDepot Price Performance

LDI opened at $0.90 on Monday. The company has a debt-to-equity ratio of 10.60, a quick ratio of 1.11 and a current ratio of 1.11. loanDepot has a 52-week low of $0.83 and a 52-week high of $5.05. The stock has a market capitalization of $304.38 million, a PE ratio of -3.00 and a beta of 3.37. The stock’s 50 day moving average price is $1.09 and its 200-day moving average price is $1.44.

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.