loanDepot (NYSE:LDI) Stock Rating Lowered by Zacks Research

loanDepot (NYSE:LDI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

LDI has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. The Goldman Sachs Group set a $1.00 price objective on loanDepot in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $1.92.

loanDepot Trading Down 1.5%

NYSE:LDI opened at $0.96 on Thursday. loanDepot has a 12 month low of $0.83 and a 12 month high of $5.05. The stock has a market cap of $323.97 million, a price-to-earnings ratio of -3.20 and a beta of 3.37. The company has a 50-day moving average price of $1.04 and a 200-day moving average price of $1.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Li Hsieh acquired 364,367 shares of loanDepot stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $0.92 per share, with a total value of $335,217.64. Following the completion of the purchase, the chief executive officer directly owned 471,466 shares in the company, valued at approximately $433,748.72. This trade represents a 340.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 794,427 shares of company stock valued at $719,902 in the last three months. Corporate insiders own 65.90% of the company’s stock.

Institutional Trading of loanDepot

Several institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in loanDepot by 0.4% during the fourth quarter. State Street Corp now owns 1,640,154 shares of the company’s stock valued at $3,395,000 after acquiring an additional 5,800 shares in the last quarter. LPL Financial LLC increased its stake in loanDepot by 8.3% in the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company’s stock worth $170,000 after purchasing an additional 6,321 shares during the period. Harbour Investments Inc. raised its stake in shares of loanDepot by 94.7% during the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after acquiring an additional 8,522 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of loanDepot by 26.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,286 shares of the company’s stock valued at $109,000 after acquiring an additional 11,003 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in loanDepot in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

About loanDepot

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.