loanDepot (NYSE:LDI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

loanDepot (NYSE:LDI) had its target price boosted by equities researchers at The Goldman Sachs Group from $1.70 to $2.70 in a report released on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 5.88% from the company’s current price.

Separately, UBS Group lifted their price objective on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

loanDepot Trading Down 1.5 %

Shares of LDI traded down $0.04 during midday trading on Thursday, hitting $2.55. The stock had a trading volume of 98,468 shares, compared to its average volume of 593,212. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.71. The company has a debt-to-equity ratio of 4.69, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50 day moving average is $2.43 and its 200 day moving average is $2.22. The firm has a market cap of $829.13 million, a PE ratio of -4.90 and a beta of 3.46.

Insider Buying and Selling

In other news, Director Anthony Li Hsieh sold 639,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the transaction, the director now directly owns 2,390,460 shares in the company, valued at approximately $7,099,666.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other loanDepot news, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the completion of the sale, the insider now directly owns 4,035,317 shares of the company’s stock, valued at approximately $10,733,943.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anthony Li Hsieh sold 639,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the completion of the sale, the director now owns 2,390,460 shares in the company, valued at $7,099,666.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,818,125 shares of company stock valued at $7,284,420 over the last three months. 83.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On loanDepot

Several institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in loanDepot by 8.2% in the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after acquiring an additional 15,565 shares in the last quarter. DC Investments Management LLC acquired a new stake in loanDepot in the 1st quarter worth approximately $559,000. Cetera Advisors LLC grew its position in loanDepot by 66.3% during the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after purchasing an additional 45,173 shares during the last quarter. Wolverine Asset Management LLC increased its stake in loanDepot by 6.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock valued at $1,683,000 after purchasing an additional 57,546 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after buying an additional 19,655 shares during the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

About loanDepot

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It 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.