loanDepot (NYSE:LDI) Given Neutral Rating at BTIG Research

BTIG Research reissued their neutral rating on shares of loanDepot (NYSE:LDI) in a report released on Wednesday morning,Benzinga reports.

Several other brokerages also recently commented on LDI. Wall Street Zen downgraded loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. UBS Group increased their price target on loanDepot from $1.40 to $1.90 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $2.30.

loanDepot Trading Up 5.9%

LDI stock opened at $3.49 on Wednesday. The firm has a market cap of $1.15 billion, a P/E ratio of -10.56 and a beta of 3.38. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. loanDepot has a 1-year low of $1.01 and a 1-year high of $4.03. The business’s 50 day moving average is $1.92 and its 200-day moving average is $1.51.

Insider Activity at loanDepot

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $2.64, for a total value of $8,041,453.20. Following the completion of the sale, the chief executive officer directly owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. The trade was a 39.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff Alexander Walsh sold 70,000 shares of loanDepot stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $2.03, for a total transaction of $142,100.00. Following the completion of the sale, the insider owned 4,001,502 shares of the company’s stock, valued at approximately $8,123,049.06. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,676,448 shares of company stock valued at $21,710,137 over the last 90 days. Company insiders own 78.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC acquired a new position in loanDepot during the fourth quarter valued at approximately $33,000. Wilshire Advisors LLC grew its stake in shares of loanDepot by 39.8% in the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company’s stock worth $33,000 after purchasing an additional 7,899 shares during the last quarter. Invesco Ltd. bought a new stake in loanDepot during the first quarter valued at $44,000. Los Angeles Capital Management LLC bought a new stake in loanDepot during the second quarter valued at $46,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in loanDepot by 130.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company’s stock valued at $47,000 after acquiring an additional 21,091 shares during the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

About loanDepot

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.