loanDepot (NYSE:LDI) Rating Lowered to Strong Sell at Zacks Research

loanDepot (NYSE:LDI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. BTIG Research restated a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, loanDepot has a consensus rating of “Strong Sell” and an average target price of $2.38.

loanDepot Stock Performance

loanDepot stock opened at $1.26 on Tuesday. The business has a 50 day moving average of $1.30 and a 200-day moving average of $1.76. The company has a market capitalization of $427.34 million, a P/E ratio of -3.72 and a beta of 3.33. loanDepot has a 1 year low of $1.09 and a 1 year high of $5.05. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LDI. Millennium Management LLC boosted its stake in shares of loanDepot by 622.6% in the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock valued at $17,255,000 after purchasing an additional 4,842,751 shares during the last quarter. Vanguard Group Inc. increased its position in shares of loanDepot by 5.3% during the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after buying an additional 226,347 shares during the period. Charles Schwab Investment Management Inc. raised its stake in loanDepot by 22.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock worth $5,375,000 after buying an additional 472,159 shares during the last quarter. Geode Capital Management LLC lifted its holdings in loanDepot by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock valued at $4,543,000 after buying an additional 148,644 shares during the period. Finally, UBS Group AG lifted its holdings in loanDepot by 1,125.1% in the third quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock valued at $6,201,000 after buying an additional 1,855,136 shares during the period. Institutional investors and hedge funds 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.