Brokerages Set loanDepot, Inc. (NYSE:LDI) Target Price at $2.00

loanDepot, Inc. (NYSE:LDI) has been assigned an average rating of “Strong Sell” from the five brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.00.

A number of analysts have issued reports on LDI shares. The Goldman Sachs Group reduced their target price on shares of loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a research note on Wednesday, July 15th. Zacks Research downgraded shares of loanDepot from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, June 20th.

Institutional Trading of loanDepot

Several large investors have recently made changes to their positions in LDI. SG Americas Securities LLC acquired a new position in shares of loanDepot during the 4th quarter valued at about $26,000. Russell Investments Group Ltd. acquired a new stake in loanDepot in the 3rd quarter worth approximately $35,000. Harbour Investments Inc. boosted its position in loanDepot by 94.7% during the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock worth $36,000 after purchasing an additional 8,522 shares during the period. Bank of Montreal Can bought a new stake in loanDepot during the fourth quarter worth approximately $38,000. Finally, Insigneo Advisory Services LLC acquired a new position in loanDepot during the fourth quarter valued at approximately $39,000. Institutional investors own 39.39% of the company’s stock.

loanDepot Trading Up 4.9%

NYSE:LDI opened at $1.01 on Thursday. The stock’s 50 day moving average price is $1.17 and its 200 day moving average price is $1.63. loanDepot has a 52 week low of $0.93 and a 52 week high of $5.05. The company has a market capitalization of $342.89 million, a P/E ratio of -2.99 and a beta of 3.33. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11.

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.