loanDepot (NYSE:LDI) Stock Lifted to “Hold” by Zacks Research

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

A number of other brokerages also recently weighed in on LDI. The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research note on Monday, August 10th. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, loanDepot presently has a consensus rating of “Reduce” and an average price target of $1.92.

loanDepot Stock Up 2.3%

Shares of NYSE LDI opened at $0.62 on Monday. The company has a market capitalization of $209.45 million, a P/E ratio of -2.07 and a beta of 3.45. loanDepot has a 52-week low of $0.57 and a 52-week high of $3.80. The company has a debt-to-equity ratio of 10.60, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50 day moving average price is $0.84 and its 200-day moving average price is $1.14.

Insider Transactions at loanDepot

In related news, CEO Anthony Hsieh purchased 364,367 shares of loanDepot stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $0.92 per share, for a total transaction of $335,217.64. Following the completion of the acquisition, the chief executive officer owned 471,466 shares of the company’s stock, valued at $433,748.72. This trade represents a 340.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 1,000,000 shares of company stock worth $911,936 over the last 90 days. 65.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On loanDepot

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in loanDepot during the 2nd quarter worth approximately $70,000. Requisite Capital Management LLC boosted its holdings in loanDepot by 200.0% in the second quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock worth $75,000 after acquiring an additional 40,000 shares in the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot in the second quarter valued at approximately $347,000. Bank of New York Mellon Corp acquired a new stake in loanDepot in the second quarter valued at approximately $359,000. Finally, Wasatch Advisors LP increased its holdings in shares of loanDepot by 36.2% during the second quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after acquiring an additional 609,893 shares in the last quarter. Institutional investors own 39.39% of the company’s stock.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a U.S.-based mortgage lending company that provides home financing through digital and traditional channels. Its primary business includes originating purchase mortgages, refinance loans and other residential lending products for consumers buying, refinancing or accessing equity in their homes.

The company operates a technology-enabled lending platform designed to simplify the mortgage application and underwriting process. loanDepot also provides related services, including mortgage servicing and support for borrowers throughout the life of their loans.