loanDepot (NYSE:LDI) Stock Price Expected to Rise, UBS Group Analyst Says

loanDepot (NYSE:LDI) had its price objective lifted by stock analysts at UBS Group from $1.40 to $1.90 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 0.80% from the company’s current price.

LDI has been the topic of a number of other research reports. Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. BTIG Research began coverage on loanDepot in a research note on Monday. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.30.

loanDepot Stock Down 2.3%

LDI opened at $1.8850 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.71. The stock has a market cap of $623.80 million, a price-to-earnings ratio of -5.71 and a beta of 3.35. loanDepot has a twelve month low of $1.01 and a twelve month high of $3.2250. The company’s 50-day moving average price is $1.62 and its two-hundred day moving average price is $1.44.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Li Hsieh sold 672,865 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $2.02, for a total transaction of $1,359,187.30. Following the sale, the chief executive officer owned 9,461,694 shares of the company’s stock, valued at $19,112,621.88. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeff Alexander Walsh sold 70,000 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $2.01, for a total value of $140,700.00. Following the completion of the transaction, the insider directly owned 4,140,751 shares of the company’s stock, valued at $8,322,909.51. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,276,016 shares of company stock valued at $2,569,679 over the last quarter. 78.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Aquatic Capital Management LLC purchased a new stake in shares of loanDepot in the fourth quarter worth about $30,000. Alpine Global Management LLC bought a new stake in loanDepot during the 4th quarter worth approximately $33,000. Wilshire Advisors LLC lifted its stake in loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock worth $33,000 after purchasing an additional 7,899 shares in the last quarter. Boothbay Fund Management LLC bought a new position in loanDepot in the 4th quarter valued at $41,000. Finally, Invesco Ltd. bought a new position in loanDepot in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It 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.