loanDepot (NYSE:LDI) Stock Rating Lowered by Zacks Research

loanDepot (NYSE:LDI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

LDI has been the topic of several other research reports. The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, loanDepot has an average rating of “Strong Sell” and a consensus target price of $1.92.

loanDepot Stock Down 1.5%

LDI opened at $0.96 on Thursday. loanDepot has a fifty-two week low of $0.83 and a fifty-two week high of $5.05. The firm has a market capitalization of $323.97 million, a P/E ratio of -3.20 and a beta of 3.37. The company’s 50-day moving average is $1.04 and its 200 day moving average is $1.36. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11.

Insiders Place Their Bets

In related news, CEO Anthony Li Hsieh purchased 364,367 shares of loanDepot stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $0.92 per share, for a total transaction of $335,217.64. Following the completion of the transaction, the chief executive officer owned 471,466 shares in the company, valued at $433,748.72. This represents a 340.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 794,427 shares of company stock worth $719,902 in the last three months. 65.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LDI. Invesco Ltd. purchased a new stake in shares of loanDepot during the 1st quarter worth approximately $44,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 85,129 shares during the period. Jane Street Group LLC purchased a new position in loanDepot in the first quarter valued at approximately $122,000. Geode Capital Management LLC grew 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 valued at $2,446,000 after purchasing an additional 1,104,021 shares during the period. Finally, New York State Common Retirement Fund bought a new position in loanDepot during the second quarter valued at $98,000. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

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.