Brokerages Set loanDepot, Inc. (NYSE:LDI) PT at $2.38

loanDepot, Inc. (NYSE:LDI) has been assigned a consensus recommendation of “Strong Sell” from the five research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.3833.

A number of equities research analysts recently commented on LDI shares. Zacks Research lowered shares of loanDepot from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Thursday, January 22nd. Bank of America set a $1.75 price target on loanDepot in a research note on Monday, December 1st. Finally, The Goldman Sachs Group set a $2.40 price target on loanDepot in a report on Tuesday, January 6th.

Insider Transactions at loanDepot

In related news, CEO Anthony Li Hsieh sold 884,495 shares of loanDepot stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 78.05% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several hedge funds have recently made changes to their positions in LDI. Millennium Management LLC lifted its position in shares of loanDepot by 622.6% in the third quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares in the last quarter. UBS Group AG boosted its holdings in loanDepot by 1,125.1% during the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,855,136 shares during the last quarter. Wasatch Advisors LP bought a new position in loanDepot in the fourth quarter valued at $3,229,000. Geode Capital Management LLC grew its position in loanDepot by 134.4% in the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,104,021 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in loanDepot by 1,264.5% in the 3rd quarter. Squarepoint Ops LLC now owns 703,939 shares of the company’s stock valued at $2,161,000 after buying an additional 652,348 shares during the last quarter. 39.39% of the stock is owned by institutional investors.

loanDepot Price Performance

Shares of LDI opened at $1.39 on Friday. The stock has a 50 day simple moving average of $2.03 and a 200 day simple moving average of $2.60. loanDepot has a 52-week low of $1.01 and a 52-week high of $5.05. The company has a debt-to-equity ratio of 8.22, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $464.02 million, a PE ratio of -4.78, a P/E/G ratio of 0.44 and a beta of 3.47.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $316.27 million during the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative net margin of 5.27% and a negative return on equity of 18.29%. Sell-side analysts predict that loanDepot will post -0.23 EPS for the current fiscal year.

loanDepot Company 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.