loanDepot, Inc. (NYSE:LDI) Stock Has Average Target Price of $1.92 According to Analysts

loanDepot, Inc. (NYSE:LDI) has been assigned a consensus recommendation of “Reduce” from the four research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $1.38.

LDI has been the subject of a number of research reports. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th. Weiss Ratings downgraded loanDepot from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Wall Street Zen raised loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research raised loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Hsieh purchased 364,367 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average price of $0.92 per share, with a total value of $335,217.64. Following the purchase, the chief executive officer directly owned 471,466 shares of the company’s stock, valued at $433,748.72. This represents a 340.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 1,000,000 shares of company stock valued at $911,936 in the last three months. Company insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in loanDepot during the 1st quarter valued at about $1,318,000. Wasatch Advisors LP lifted its holdings in shares of loanDepot by 36.2% in the second quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after purchasing an additional 609,893 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of loanDepot by 192.4% in the first quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock valued at $1,164,000 after purchasing an additional 539,452 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of loanDepot by 258.3% in the first quarter. Dimensional Fund Advisors LP now owns 579,252 shares of the company’s stock valued at $822,000 after purchasing an additional 417,576 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of loanDepot during the 2nd quarter worth approximately $359,000. 39.39% of the stock is owned by institutional investors and hedge funds.

loanDepot Stock Down 8.1%

LDI stock opened at $0.57 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60. The company’s 50-day moving average price is $0.81 and its 200 day moving average price is $1.12. loanDepot has a 52 week low of $0.56 and a 52 week high of $3.80. The company has a market cap of $191.88 million, a P/E ratio of -1.89 and a beta of 3.45.

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.