loanDepot (NYSE:LDI) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of loanDepot (NYSE:LDI) from a hold rating to a strong sell rating in a report published on Wednesday morning,Zacks reports.

A number of other analysts have also weighed in on LDI. The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a research note on Monday, August 10th. Weiss Ratings downgraded shares of loanDepot from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Bank of America reiterated an “underperform” rating on shares of loanDepot in a report on Tuesday. Finally, Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus price target of $1.38.

loanDepot Price Performance

LDI opened at $0.44 on Wednesday. The stock has a 50-day moving average price of $0.64 and a 200-day moving average price of $1.21. The company has a debt-to-equity ratio of 11.32, a current ratio of 1.09 and a quick ratio of 1.11. The firm has a market cap of $149.99 million, a PE ratio of -1.23 and a beta of 3.56. loanDepot has a 1 year low of $0.44 and a 1 year high of $3.24.

Insider Buying and Selling at loanDepot

In other loanDepot news, CEO Anthony Hsieh purchased 364,367 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $0.92 per share, for a total transaction of $335,217.64. Following the completion of the purchase, the chief executive officer directly owned 471,466 shares of the company’s stock, valued at $433,748.72. This trade represents a 340.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 1,000,000 shares of company stock valued at $911,936 in the last three months. 65.90% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in loanDepot in the 1st quarter worth about $57,000. Squarepoint Ops LLC bought a new position in loanDepot during the 2nd quarter valued at about $70,000. Requisite Capital Management LLC lifted its stake in loanDepot by 200.0% during the 2nd quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock valued at $75,000 after acquiring an additional 40,000 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of loanDepot by 72.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 67,952 shares of the company’s stock valued at $96,000 after acquiring an additional 28,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of loanDepot by 10.6% during the 1st quarter. Bank of New York Mellon Corp now owns 248,355 shares of the company’s stock valued at $353,000 after acquiring an additional 23,769 shares during the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

About loanDepot

loanDepot, Inc. is a U.S.-based mortgage lender that provides home loans to consumers. Its offerings include mortgages for home purchases and refinancing, delivered through its retail branches and digital channels. The company also works with mortgage brokers and other lending partners and provides mortgage servicing. Its technology platform supports the application and loan-management process. Founded in 2010 by mortgage entrepreneur Anthony Hsieh, loanDepot serves customers across the United States.