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

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

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

loanDepot Trading Up 1.2%

Shares of LDI stock opened at $1.26 on Tuesday. The stock has a market cap of $427.34 million, a P/E ratio of -3.72 and a beta of 3.33. loanDepot has a 1 year low of $1.09 and a 1 year high of $5.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26. The stock has a 50 day simple moving average of $1.30 and a 200 day simple moving average of $1.76.

Institutional Investors Weigh In On loanDepot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of loanDepot by 5.3% during the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after buying an additional 226,347 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of loanDepot by 22.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock worth $5,375,000 after buying an additional 472,159 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of loanDepot by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock worth $4,543,000 after buying an additional 148,644 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of loanDepot by 1,125.1% during the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after buying an additional 1,855,136 shares in the last quarter. 39.39% of the stock is owned by 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.