loanDepot (NYSE:LDI) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of loanDepot (NYSE:LDI) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Bank of America set a $1.75 price target on shares of loanDepot in a research note on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Thursday, January 22nd. BTIG Research reissued a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Finally, The Goldman Sachs Group set a $2.40 price objective on shares of loanDepot in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, loanDepot has a consensus rating of “Strong Sell” and an average target price of $2.38.

loanDepot Price Performance

NYSE:LDI opened at $1.49 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22. loanDepot has a 12 month low of $1.01 and a 12 month high of $5.05. The business’s 50-day moving average is $2.13 and its 200 day moving average is $2.62. The company has a market capitalization of $494.86 million, a P/E ratio of -5.12, a P/E/G ratio of 0.48 and a beta of 3.47.

loanDepot (NYSE:LDI) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). loanDepot had a negative net margin of 5.27% and a negative return on equity of 18.29%. The company had revenue of $316.27 million for the quarter, compared to analysts’ expectations of $333.29 million. On average, equities research analysts forecast that loanDepot will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at loanDepot

In related news, CEO Anthony Li Hsieh sold 884,495 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 78.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On loanDepot

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of loanDepot during the 4th quarter valued at $26,000. Jones Financial Companies Lllp grew its position in shares of loanDepot by 8,934.0% during the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after buying an additional 8,934 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of loanDepot in the 3rd quarter valued at about $31,000. Traynor Capital Management Inc. acquired a new position in shares of loanDepot in the 3rd quarter worth approximately $31,000. Finally, CWM LLC bought a new stake in loanDepot during the third quarter valued at $32,000. 39.39% of the stock is owned by institutional investors and hedge funds.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.

Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.