loanDepot, Inc. (NYSE:LDI) Given Average Recommendation of “Strong Sell” by Analysts

loanDepot, Inc. (NYSE:LDI) has received a consensus rating of “Strong Sell” from the five analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $2.00.

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price target on loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a report on Wednesday, July 15th. Zacks Research downgraded loanDepot from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Wall Street Zen cut loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th.

Hedge Funds Weigh In On loanDepot

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in shares of loanDepot by 0.4% in the fourth quarter. State Street Corp now owns 1,640,154 shares of the company’s stock valued at $3,395,000 after acquiring an additional 5,800 shares in the last quarter. LPL Financial LLC boosted its stake in shares of loanDepot by 8.3% in the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock worth $170,000 after acquiring an additional 6,321 shares during the period. Harbour Investments Inc. grew its position in shares of loanDepot by 94.7% during the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock worth $36,000 after purchasing an additional 8,522 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of loanDepot by 26.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock worth $109,000 after purchasing an additional 11,003 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in loanDepot during the 3rd quarter valued at approximately $35,000. 39.39% of the stock is currently owned by institutional investors.

loanDepot Trading Down 2.4%

NYSE:LDI opened at $1.02 on Thursday. loanDepot has a one year low of $1.01 and a one year high of $5.05. The business has a fifty day moving average price of $1.19 and a 200-day moving average price of $1.64. The firm has a market capitalization of $346.27 million, a price-to-earnings ratio of -3.01 and a beta of 3.33. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11.

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.