loanDepot (NYSE:LDI) Sets New 52-Week Low at $7.03

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.

loanDepot (NYSE:LDI) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.26). The firm had revenue of $779.91 million during the quarter, compared to analysts’ expectations of $886.68 million. Research analysts expect that loanDepot, Inc. will post 1.83 earnings per share for the current fiscal year.

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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