JMP Securities Lowers loanDepot (NYSE:LDI) to Market Perform

loanDepot (NYSE:LDIGet Rating) was downgraded by JMP Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.

Several other research analysts also recently commented on LDI. Zacks Investment Research downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a research note on Wednesday, February 2nd. The Goldman Sachs Group cut their price target on shares of loanDepot from $4.80 to $3.90 and set a “neutral” rating on the stock in a report on Monday, April 4th. Raymond James cut shares of loanDepot from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 2nd. Piper Sandler cut their price target on shares of loanDepot from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday, April 5th. Finally, Barclays cut their price target on shares of loanDepot from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.34.

Shares of NYSE LDI opened at $2.38 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. loanDepot has a 52 week low of $2.00 and a 52 week high of $16.95. The firm’s fifty day moving average is $3.64 and its 200 day moving average is $4.60. The company has a market cap of $740.01 million, a price-to-earnings ratio of 2.70 and a beta of 1.21.

loanDepot (NYSE:LDIGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.30). loanDepot had a return on equity of 33.38% and a net margin of 3.05%. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities research analysts anticipate that loanDepot will post 0.5 earnings per share for the current year.

In other news, CFO Patrick J. Flanagan sold 75,000 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $3.88, for a total transaction of $291,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 225,000 shares of company stock worth $796,500.

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI bought a new position in loanDepot in the 1st quarter worth about $28,000. Buckingham Strategic Partners purchased a new position in loanDepot in the 1st quarter worth about $42,000. Willis Johnson & Associates Inc. purchased a new position in loanDepot in the 1st quarter worth about $49,000. Capstone Financial Advisors Inc. purchased a new position in loanDepot in the 3rd quarter worth about $68,000. Finally, Truist Financial Corp purchased a new position in loanDepot in the 1st quarter worth about $68,000. Institutional investors own 4.12% of the company’s stock.

loanDepot Company Profile (Get Rating)

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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