loanDepot (NYSE:LDI) Price Target Cut to $2.50 by Analysts at Credit Suisse Group

loanDepot (NYSE:LDIGet Rating) had its price objective lowered by Credit Suisse Group from $3.25 to $2.50 in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of loanDepot from $1.70 to $1.50 and set a neutral rating on the stock in a report on Tuesday, October 4th. Citigroup decreased their price target on shares of loanDepot from $1.50 to $1.25 and set a sell rating on the stock in a report on Wednesday, November 9th. Finally, Barclays decreased their price target on shares of loanDepot from $2.00 to $1.00 and set an equal weight rating on the stock in a report on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $2.71.

loanDepot Stock Performance

NYSE LDI opened at $1.55 on Monday. The company’s 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $1.77. The stock has a market capitalization of $487.37 million, a PE ratio of -1.26 and a beta of 2.29. loanDepot has a 1 year low of $1.25 and a 1 year high of $5.80. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.30 and a quick ratio of 1.30.

Insider Activity at loanDepot

In related news, insider Jeffrey Michael Dergurahian sold 100,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $1.69, for a total transaction of $169,000.00. Following the transaction, the insider now owns 6,142,969 shares of the company’s stock, valued at approximately $10,381,617.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other loanDepot news, insider Jeffrey Michael Dergurahian sold 100,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $1.69, for a total transaction of $169,000.00. Following the completion of the sale, the insider now owns 6,142,969 shares of the company’s stock, valued at approximately $10,381,617.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Anthony Li Hsieh purchased 176,862 shares of the company’s stock in a transaction on Monday, August 29th. The shares were purchased at an average cost of $1.59 per share, with a total value of $281,210.58. Following the transaction, the chairman now directly owns 3,554,808 shares in the company, valued at $5,652,144.72. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 359,566 shares of company stock valued at $572,203 and have sold 2,235,897 shares valued at $3,376,581. 88.65% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in loanDepot during the 1st quarter valued at $28,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of loanDepot in the 3rd quarter worth about $32,000. Clear Creek Financial Management LLC purchased a new stake in shares of loanDepot in the 2nd quarter worth about $33,000. Envestnet Asset Management Inc. purchased a new stake in shares of loanDepot in the 2nd quarter worth about $33,000. Finally, Jane Street Group LLC lifted its position in shares of loanDepot by 26.2% in the 2nd quarter. Jane Street Group LLC now owns 27,513 shares of the company’s stock worth $40,000 after purchasing an additional 5,711 shares during the period. Hedge funds and other institutional investors own 4.12% of the company’s stock.

About loanDepot

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

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Analyst Recommendations for loanDepot (NYSE:LDI)

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