loanDepot, Inc. (NYSE:LDI) Receives $2.38 Average Price Target from Brokerages

Shares of loanDepot, Inc. (NYSE:LDI) have been given an average recommendation of “Strong Sell” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.3833.

LDI has been the topic of several research analyst reports. Bank of America set a $1.75 price target on shares of loanDepot in a research note on Monday, December 1st. Zacks Research cut shares of loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. The Goldman Sachs Group set a $2.40 price objective on loanDepot in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research note on Thursday, January 22nd.

loanDepot Stock Down 4.2%

Shares of NYSE LDI opened at $1.49 on Friday. The firm’s 50-day simple moving average is $2.13 and its 200 day simple moving average is $2.63. The company has a market cap of $497.52 million, a price-to-earnings ratio of -5.12, a price-to-earnings-growth ratio of 0.46 and a beta of 3.47. The company has a quick ratio of 1.14, a current 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.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $333.29 million. On average, research analysts expect that loanDepot will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony Li Hsieh sold 884,495 shares of loanDepot stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 83.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

loanDepot Company Profile

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.