loanDepot (NYSE:LDI) Raised to Hold at Zacks Research

loanDepot (NYSE:LDI) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

LDI has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on shares of loanDepot from $2.10 to $1.25 and set a “sell” rating on the stock in a research note on Wednesday, July 15th. Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Three 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.com, the company presently has an average rating of “Reduce” and an average price target of $2.00.

loanDepot Stock Down 0.5%

Shares of LDI stock opened at $1.00 on Wednesday. loanDepot has a twelve month low of $0.93 and a twelve month high of $5.05. The stock has a market cap of $339.51 million, a P/E ratio of -2.96 and a beta of 3.33. The stock has a 50 day moving average of $1.16 and a 200 day moving average of $1.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26.

Hedge Funds Weigh In On loanDepot

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of loanDepot by 622.6% in the third 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 last quarter. Vanguard Group Inc. raised its stake in loanDepot by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after purchasing an additional 226,347 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in loanDepot by 22.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock valued at $5,375,000 after purchasing an additional 472,159 shares during the last quarter. Wasatch Advisors LP lifted its holdings in loanDepot by 36.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after purchasing an additional 609,893 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in loanDepot by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock valued at $4,543,000 after purchasing an additional 148,644 shares in the last quarter. Hedge funds and other institutional investors 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.