loanDepot (NYSE:LDI) Announces Earnings Results

loanDepot (NYSE:LDI) issued its quarterly earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12), FiscalAI reports. The business had revenue of $302.21 million for the quarter, compared to analysts’ expectations of $320.32 million. loanDepot had a negative return on equity of 28.25% and a negative net margin of 5.52%.

loanDepot Stock Performance

loanDepot stock opened at $0.62 on Monday. The firm has a 50 day simple moving average of $0.67 and a 200-day simple moving average of $1.25. loanDepot has a 1-year low of $0.48 and a 1-year high of $3.24. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $211.14 million, a price-to-earnings ratio of -2.08 and a beta of 3.56.

Insider Activity

In other loanDepot news, CEO Anthony Hsieh bought 60,208 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was bought at an average price of $0.92 per share, with a total value of $55,391.36. Following the completion of the purchase, the chief executive officer directly owned 1,000,000 shares in the company, valued at $920,000. The trade was a 6.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 1,000,000 shares of company stock worth $911,936. 65.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Weiss Ratings raised shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $1.38.

loanDepot Company Profile

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.