loanDepot (NYSE:LDI) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen cut shares of loanDepot (NYSE:LDI) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other brokerages also recently issued reports on LDI. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings upgraded shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $1.38.

loanDepot Stock Performance

NYSE LDI opened at $0.58 on Friday. The firm has a market cap of $197.62 million, a price-to-earnings ratio of -1.95 and a beta of 3.45. loanDepot has a 1-year low of $0.48 and a 1-year high of $3.24. The company has a 50 day moving average of $0.70 and a 200-day moving average of $1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60.

Insiders Place Their Bets

In other loanDepot news, CEO Anthony Hsieh bought 60,208 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $0.92 per share, for a total transaction of $55,391.36. Following the transaction, the chief executive officer owned 1,000,000 shares in the company, valued at approximately $920,000. This trade represents a 6.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 1,000,000 shares of company stock worth $911,936. Insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in loanDepot by 192.4% during the first quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock valued at $1,164,000 after purchasing an additional 539,452 shares during the period. Wasatch Advisors LP increased its stake in loanDepot by 36.2% in the second quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after purchasing an additional 609,893 shares in the last quarter. Lazard Asset Management LLC bought a new stake in loanDepot in the first quarter valued at approximately $1,318,000. Citizens Financial Group Inc. RI raised its holdings in loanDepot by 148.6% in the third quarter. Citizens Financial Group Inc. RI now owns 329,017 shares of the company’s stock worth $194,000 after purchasing an additional 196,682 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in loanDepot in the second quarter worth $70,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

loanDepot Company Profile

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.