loanDepot (NYSE:LDI) Stock Rating Lowered by Wall Street Zen

loanDepot (NYSE:LDI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on LDI. The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a research report on Monday, August 10th. Weiss Ratings upgraded shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 27th. Finally, Zacks Research upgraded loanDepot from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, loanDepot currently has a consensus rating of “Reduce” and a consensus price target of $1.38.

loanDepot Price Performance

Shares of NYSE LDI opened at $0.58 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.60. loanDepot has a twelve month low of $0.48 and a twelve month high of $3.24. The stock’s 50-day simple moving average is $0.70 and its two-hundred day simple moving average is $1.31. The firm has a market capitalization of $197.62 million, a P/E ratio of -1.95 and a beta of 3.55.

Insider Transactions at loanDepot

In other loanDepot news, CEO Anthony Hsieh bought 364,367 shares of the stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $0.92 per share, for a total transaction of $335,217.64. Following the completion of the purchase, the chief executive officer owned 471,466 shares in the company, valued at $433,748.72. This represents a 340.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 1,000,000 shares of company stock worth $911,936 in the last 90 days. Insiders own 65.90% of the company’s stock.

Institutional Trading of loanDepot

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

About loanDepot

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.