loanDepot (NYSE:LDI) Upgraded by Zacks Research to “Hold” Rating

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

A number of other research analysts also recently weighed in on the company. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Tuesday, April 21st. Finally, BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a research note on Wednesday, March 11th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $2.38.

loanDepot Stock Down 1.2%

Shares of NYSE:LDI opened at $1.25 on Monday. The company has a market capitalization of $420.59 million, a price-to-earnings ratio of -3.66 and a beta of 3.31. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $1.42 and its 200-day moving average is $1.99. loanDepot has a 1 year low of $1.13 and a 1 year high of $5.05.

loanDepot (NYSE:LDI) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $316.27 million during the quarter, compared to analyst estimates of $333.29 million. loanDepot had a negative net margin of 6.51% and a negative return on equity of 22.35%. Equities research analysts predict that loanDepot will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LDI. SG Americas Securities LLC acquired a new position in loanDepot during the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp raised its stake in loanDepot by 8,934.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after buying an additional 8,934 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in loanDepot during the 3rd quarter worth approximately $31,000. Sincerus Advisory LLC acquired a new position in loanDepot during the 4th quarter worth approximately $33,000. Finally, Russell Investments Group Ltd. bought a new stake in loanDepot during the 3rd quarter worth approximately $35,000. 39.39% of the stock is owned by institutional investors and hedge funds.

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.