loanDepot, Inc. (NYSE:LDI)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.03 and last traded at $7.06, with a volume of 2425 shares. The stock had previously closed at $7.25.
Several brokerages recently issued reports on LDI. Raymond James dropped their price objective on loanDepot from $22.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 4th. Zacks Investment Research raised loanDepot from a “sell” rating to a “hold” rating in a research note on Tuesday, June 29th. Jefferies Financial Group dropped their price objective on loanDepot from $30.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 12th. Morgan Stanley dropped their price objective on loanDepot from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 4th. Finally, Citigroup dropped their price objective on loanDepot from $24.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, loanDepot presently has a consensus rating of “Hold” and a consensus target price of $17.23.
The company has a debt-to-equity ratio of 1.46, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $14.11.
In other loanDepot news, Director Michael Linton acquired 7,520 shares of the stock in a transaction dated Friday, August 6th. The stock was purchased at an average price of $9.43 per share, with a total value of $70,913.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
A number of hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new position in loanDepot in the 2nd quarter worth $6,472,000. Basswood Capital Management L.L.C. raised its stake in loanDepot by 430.0% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 446,139 shares of the company’s stock worth $5,733,000 after acquiring an additional 361,960 shares during the last quarter. State Street Corp purchased a new position in loanDepot in the 2nd quarter worth $217,000. Goldman Sachs Group Inc. purchased a new position in loanDepot in the 2nd quarter worth $163,000. Finally, Geode Capital Management LLC raised its stake in loanDepot by 27.1% in the 2nd quarter. Geode Capital Management LLC now owns 32,412 shares of the company’s stock worth $416,000 after acquiring an additional 6,908 shares during the last quarter. Institutional investors own 0.99% of the company’s stock.
About loanDepot (NYSE:LDI)
loanDepot, Inc engages in the origination and servicing of conventional and government mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, home equity, Federal Housing Administration, and VA loans. The company 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.
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