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

loanDepot, Inc. (NYSE:LDI) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.00.

LDI has been the topic of several recent analyst reports. UBS Group increased their target price on shares of loanDepot from $1.75 to $2.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 30th. The Goldman Sachs Group cut their price target on shares of loanDepot from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Tuesday, October 3rd.

Insider Buying and Selling

In other loanDepot news, CEO Frank Martell acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average price of $1.93 per share, with a total value of $38,600.00. Following the completion of the purchase, the chief executive officer now directly owns 353,402 shares of the company’s stock, valued at approximately $682,065.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jeff Alexander Walsh sold 17,864 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $1.98, for a total transaction of $35,370.72. Following the completion of the transaction, the insider now directly owns 4,226,949 shares of the company’s stock, valued at $8,369,359.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Martell acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were bought at an average cost of $1.93 per share, with a total value of $38,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 353,402 shares of the company’s stock, valued at $682,065.86. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 60,000 shares of company stock valued at $117,291 and have sold 32,148 shares valued at $58,082. 83.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cannell Capital LLC grew its position in loanDepot by 281.4% during the first quarter. Cannell Capital LLC now owns 3,913,633 shares of the company’s stock valued at $6,301,000 after buying an additional 2,887,391 shares during the period. Vanguard Group Inc. boosted its position in shares of loanDepot by 61.8% during the first quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock worth $10,047,000 after acquiring an additional 925,002 shares during the last quarter. Prelude Capital Management LLC raised its stake in loanDepot by 232.2% during the first quarter. Prelude Capital Management LLC now owns 518,956 shares of the company’s stock valued at $836,000 after purchasing an additional 362,749 shares in the last quarter. Renaissance Technologies LLC raised its stake in loanDepot by 39.4% during the second quarter. Renaissance Technologies LLC now owns 1,100,305 shares of the company’s stock valued at $1,584,000 after purchasing an additional 310,820 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of loanDepot in the third quarter valued at $244,000. 53.01% of the stock is owned by hedge funds and other institutional investors.

loanDepot Stock Up 0.7 %

LDI opened at $1.42 on Monday. The company has a 50 day moving average of $1.59 and a 200 day moving average of $1.86. The company has a market cap of $453.58 million, a PE ratio of -1.53 and a beta of 2.53. loanDepot has a 12 month low of $1.14 and a 12 month high of $3.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.62.

About loanDepot

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.