loanDepot, Inc. (NYSE:LDI) Given Average Rating of “Strong Sell” by Brokerages

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

Several brokerages recently issued reports on LDI. BTIG Research reissued a “neutral” rating on shares of loanDepot in a research note on Wednesday, March 11th. Wall Street Zen downgraded loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research downgraded loanDepot from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st.

loanDepot Stock Down 0.4%

Shares of LDI opened at $1.41 on Friday. The business’s 50 day moving average is $1.59 and its 200 day moving average is $2.21. The company has a market capitalization of $470.72 million, a PE ratio of -4.13 and a beta of 3.41. loanDepot has a 12-month low of $1.09 and a 12-month high of $5.05. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22.

loanDepot (NYSE:LDI) last issued its earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative net margin of 6.51% and a negative return on equity of 21.25%. Research analysts expect that loanDepot will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of loanDepot

Several hedge funds have recently modified their holdings of LDI. Millennium Management LLC raised its holdings in shares of loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after acquiring an additional 4,842,751 shares in the last quarter. UBS Group AG raised its holdings in shares of loanDepot by 1,125.1% during the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after acquiring an additional 1,855,136 shares in the last quarter. Wasatch Advisors LP purchased a new stake in shares of loanDepot during the 4th quarter worth approximately $3,229,000. Geode Capital Management LLC raised its holdings in shares of loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of loanDepot by 1,264.5% during the 3rd quarter. Squarepoint Ops LLC now owns 703,939 shares of the company’s stock worth $2,161,000 after acquiring an additional 652,348 shares in the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.