loanDepot, Inc. (NYSE:LDI) Given Consensus Rating of “Strong Sell” by Brokerages

loanDepot, Inc. (NYSE:LDI) has received an average rating of “Strong Sell” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $1.9167.

A number of analysts have commented on LDI shares. Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. The Goldman Sachs Group set a $1.00 target price on loanDepot in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Insiders Place Their Bets

In other news, CEO Anthony Hsieh acquired 364,367 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $0.92 per share, with a total value of $335,217.64. Following the acquisition, the chief executive officer directly owned 471,466 shares of the company’s stock, valued at $433,748.72. The trade was a 340.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 1,000,000 shares of company stock worth $911,936. 65.90% of the stock is currently owned by company insiders.

Institutional Trading of loanDepot

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in loanDepot by 622.6% during the third 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 during the last quarter. Vanguard Group Inc. increased its stake in loanDepot by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock valued at $13,902,000 after buying an additional 226,347 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in loanDepot by 22.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock valued at $5,375,000 after buying an additional 472,159 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of loanDepot by 36.2% during the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock worth $2,870,000 after buying an additional 609,893 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of loanDepot by 7.3% during the 4th 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. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Price Performance

Shares of NYSE LDI opened at $0.83 on Friday. loanDepot has a fifty-two week low of $0.75 and a fifty-two week high of $5.05. The stock has a market cap of $281.40 million, a price-to-earnings ratio of -2.78 and a beta of 3.40. 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 firm’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.28.

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.