loanDepot (NYSE:LDI) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of loanDepot (NYSE:LDI) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research firms have also weighed in on LDI. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, The Goldman Sachs Group decreased their target price on shares of loanDepot from $2.10 to $1.25 and set a “sell” rating on the stock in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $2.00.

loanDepot Trading Up 0.9%

Shares of LDI stock opened at $0.95 on Friday. loanDepot has a fifty-two week low of $0.93 and a fifty-two week high of $5.05. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $1.13 and its two-hundred day moving average is $1.52. The firm has a market capitalization of $320.93 million, a P/E ratio of -3.17 and a beta of 3.37.

Institutional Investors Weigh In On loanDepot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in 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. boosted 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. boosted its position in shares of 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 period. Wasatch Advisors LP grew its stake in shares of 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 buying an additional 609,893 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

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.