Wasatch Advisors LP Has $2.87 Million Stock Position in loanDepot, Inc. $LDI

Wasatch Advisors LP boosted its holdings in loanDepot, Inc. (NYSE:LDI) by 36.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,296,300 shares of the company’s stock after purchasing an additional 609,893 shares during the quarter. Wasatch Advisors LP’s holdings in loanDepot were worth $2,870,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. bought a new position in shares of loanDepot during the 1st quarter worth approximately $44,000. Goldman Sachs Group Inc. increased its stake in shares of loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock valued at $436,000 after acquiring an additional 85,129 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of loanDepot in the 1st quarter valued at $122,000. Geode Capital Management LLC lifted its position in shares of loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after acquiring an additional 1,104,021 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of loanDepot during the 2nd quarter valued at $98,000. 39.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a report on Monday. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $1.92.

loanDepot Stock Performance

LDI opened at $0.88 on Thursday. loanDepot, Inc. has a 1-year low of $0.83 and a 1-year high of $5.05. The company has a market cap of $296.94 million, a price-to-earnings ratio of -2.93 and a beta of 3.37. The company’s fifty day moving average price is $1.11 and its two-hundred day moving average price is $1.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26.

loanDepot 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.