loanDepot, Inc. (NYSE:LDI) Given Consensus Rating of “Strong Sell” by Analysts

loanDepot, Inc. (NYSE:LDI) has been given a consensus rating of “Strong Sell” by the five ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $2.3833.

Several equities analysts have recently issued reports on the company. Zacks Research downgraded loanDepot from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Wall Street Zen lowered shares of loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th.

loanDepot Stock Performance

Shares of NYSE:LDI opened at $1.23 on Friday. The company has a market cap of $413.83 million, a P/E ratio of -3.60 and a beta of 3.33. The business’s 50-day simple moving average is $1.28 and its 200 day simple moving average is $1.75. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11. loanDepot has a one year low of $1.09 and a one year high of $5.05.

Institutional Investors Weigh In On loanDepot

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in shares of loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after acquiring an additional 4,842,751 shares during the period. UBS Group AG grew its stake in shares of loanDepot by 1,125.1% during the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,855,136 shares during the period. Wasatch Advisors LP acquired a new position in loanDepot during the fourth quarter valued at approximately $3,229,000. Geode Capital Management LLC lifted its holdings in loanDepot by 134.4% during the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of loanDepot during the 1st quarter valued at about $1,318,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

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.