loanDepot (NYSE:LDI) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of loanDepot (NYSE:LDI) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on LDI. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Wall Street Zen lowered loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $2.38.

loanDepot Stock Performance

NYSE:LDI opened at $1.26 on Tuesday. The company has a 50-day moving average of $1.30 and a 200-day moving average of $1.76. The firm has a market cap of $427.34 million, a price-to-earnings ratio of -3.72 and a beta of 3.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26. loanDepot has a twelve month low of $1.09 and a twelve month high of $5.05.

Institutional Trading of loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. purchased a new position in shares of loanDepot during the first quarter valued at $44,000. Goldman Sachs Group Inc. lifted its stake in loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock worth $436,000 after acquiring an additional 85,129 shares in the last quarter. Jane Street Group LLC acquired a new stake in loanDepot during the 1st quarter worth about $122,000. Geode Capital Management LLC grew its stake in loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of loanDepot in the 2nd quarter valued at about $98,000. Institutional investors and hedge funds 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.