loanDepot (NYSE:LDI) Stock Rating Upgraded by Wall Street Zen

loanDepot (NYSE:LDI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other equities analysts have also weighed in on the stock. UBS Group upped their target price on shares of loanDepot from $1.90 to $3.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their target price on shares of loanDepot from $1.45 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, October 29th. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a research report on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $3.00.

loanDepot Stock Up 3.2%

Shares of LDI opened at $2.74 on Friday. The business’s 50 day moving average is $3.21 and its 200 day moving average is $2.09. The company has a market capitalization of $905.09 million, a PE ratio of -7.60 and a beta of 3.45. loanDepot has a 12-month low of $1.01 and a 12-month high of $5.05. 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 (NYSE:LDI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. loanDepot had a negative return on equity of 21.95% and a negative net margin of 6.46%.The business had revenue of $325.16 million during the quarter, compared to the consensus estimate of $309.20 million. Research analysts expect that loanDepot will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 4,693,712 shares in the company, valued at approximately $12,391,399.68. This trade represents a 39.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 14,587,748 shares of company stock valued at $41,685,046 in the last ninety days. Insiders own 78.05% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently bought and sold shares of LDI. Jones Financial Companies Lllp grew its holdings in loanDepot by 8,934.0% in the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after purchasing an additional 8,934 shares during the last quarter. Traynor Capital Management Inc. acquired a new stake in shares of loanDepot in the 3rd quarter worth $31,000. Wealth Enhancement Advisory Services LLC purchased a new position in loanDepot during the 3rd quarter worth $31,000. CWM LLC purchased a new position in loanDepot during the 3rd quarter worth $32,000. Finally, Wilshire Advisors LLC boosted its holdings in 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 acquiring an additional 7,899 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.