loanDepot, Inc. (NYSE:LDI) Stock Has Consensus Target Price of $1.92

Shares of loanDepot, Inc. (NYSE:LDI) have been given an average recommendation of “Reduce” by the five research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $1.92.

A number of equities analysts have recently commented on LDI shares. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised loanDepot from a “strong sell” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group set a $1.00 price target on loanDepot in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th.

Insider Buying and Selling

In other loanDepot news, CEO Anthony Hsieh purchased 364,367 shares of the stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $0.92 per share, with a total value of $335,217.64. Following the completion of the transaction, the chief executive officer directly owned 471,466 shares in the company, valued at $433,748.72. This represents a 340.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 1,000,000 shares of company stock worth $911,936 in the last three months. Company insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in loanDepot in the 2nd quarter valued at $70,000. Requisite Capital Management LLC increased its holdings in shares of loanDepot by 200.0% in the second quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock valued at $75,000 after purchasing an additional 40,000 shares during the last quarter. Cullen Capital Management LLC bought a new position in shares of loanDepot in the second quarter valued at about $347,000. Bank of New York Mellon Corp bought a new position in loanDepot in the 2nd quarter valued at about $359,000. Finally, Wasatch Advisors LP raised its holdings in loanDepot by 36.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after acquiring an additional 609,893 shares during the period. 39.39% of the stock is currently owned by institutional investors.

loanDepot Stock Down 0.6%

loanDepot stock opened at $0.61 on Tuesday. The company has a market cap of $207.42 million, a P/E ratio of -2.05 and a beta of 3.45. loanDepot has a 1-year low of $0.57 and a 1-year high of $3.80. The company has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $1.12. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a U.S.-based mortgage lending company that provides home financing through digital and traditional channels. Its primary business includes originating purchase mortgages, refinance loans and other residential lending products for consumers buying, refinancing or accessing equity in their homes.

The company operates a technology-enabled lending platform designed to simplify the mortgage application and underwriting process. loanDepot also provides related services, including mortgage servicing and support for borrowers throughout the life of their loans.