loanDepot, Inc. (NYSE:LDI) Given Average Rating of “Hold” by Analysts

Shares of loanDepot, Inc. (NYSE:LDI – Get Rating) have earned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.68.

A number of research firms have weighed in on LDI. Citigroup downgraded loanDepot from a “neutral” rating to a “sell” rating and lowered their price target for the company from $5.00 to $2.00 in a research report on Wednesday, May 11th. Zacks Investment Research downgraded loanDepot from a “hold” rating to a “sell” rating in a research report on Wednesday, February 2nd. JMP Securities cut loanDepot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 11th. Credit Suisse Group cut their target price on loanDepot to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. Finally, Piper Sandler cut loanDepot from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $6.00 to $3.50 in a research note on Wednesday, May 11th.

In other news, CEO Frank Martell acquired 120,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of $2.38 per share, for a total transaction of $285,600.00. Following the acquisition, the chief executive officer now directly owns 120,000 shares in the company, valued at $285,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeff Alexander Walsh sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $2.82, for a total transaction of $211,500.00. Following the completion of the transaction, the executive vice president now owns 6,772,543 shares of the company’s stock, valued at $19,098,571.26. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 183,285 shares of company stock valued at $450,113 and sold 225,000 shares valued at $796,500.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in loanDepot by 61.8% during the 1st quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock valued at $10,047,000 after buying an additional 925,002 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in loanDepot by 287.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,992,633 shares of the company’s stock valued at $9,565,000 after buying an additional 1,478,331 shares during the last quarter. State of Michigan Retirement System purchased a new stake in loanDepot during the 4th quarter valued at $5,182,000. Renaissance Technologies LLC grew its position in shares of loanDepot by 1,293.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,025,400 shares of the company’s stock valued at $4,922,000 after acquiring an additional 951,819 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of loanDepot during the 4th quarter valued at $3,705,000. Institutional investors and hedge funds own 4.12% of the company’s stock.

Shares of LDI stock opened at $2.73 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.15 and a current ratio of 1.15. loanDepot has a 52-week low of $2.00 and a 52-week high of $15.89. The company has a market capitalization of $850.98 million, a PE ratio of 10.11 and a beta of 1.21. The business’s fifty day moving average is $3.19 and its 200 day moving average is $4.15.

loanDepot (NYSE:LDI – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.30). loanDepot had a return on equity of 9.56% and a net margin of 1.16%. During the same period in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts forecast that loanDepot will post -0.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 4th were issued a $0.08 dividend. The ex-dividend date was Friday, April 1st. This represents a $0.32 dividend on an annualized basis and a yield of 11.72%. loanDepot’s payout ratio is currently 118.52%.

About loanDepot (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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