loanDepot (NYSE:LDI) Trading Down 8.7% – Should You Sell?

Shares of loanDepot, Inc. (NYSE:LDI) fell 8.7% during mid-day trading on Wednesday . The stock traded as low as $1.5201 and last traded at $1.5150. 1,848,754 shares changed hands during trading, a decline of 39% from the average session volume of 3,044,168 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

LDI has been the subject of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Zacks Research lowered loanDepot from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group set a $2.40 price target on shares of loanDepot in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $2.38.

loanDepot Stock Down 8.1%

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 8.22. The firm has a 50-day moving average of $1.64 and a two-hundred day moving average of $2.27. The stock has a market capitalization of $510.92 million, a price-to-earnings ratio of -5.26 and a beta of 3.55.

loanDepot (NYSE:LDI) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) 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 analyst estimates of $333.29 million. loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%.

Institutional Investors Weigh In On loanDepot

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of loanDepot during the fourth quarter worth about $26,000. Jones Financial Companies Lllp grew its holdings in loanDepot by 8,934.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock worth $28,000 after acquiring an additional 8,934 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of loanDepot in the 3rd quarter valued at about $31,000. Traynor Capital Management Inc. purchased a new stake in shares of loanDepot during the third quarter valued at approximately $31,000. Finally, CWM LLC bought a new position in loanDepot during the third quarter valued at $32,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

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.