loanDepot (NYSE:LDI) Issues Earnings Results, Misses Estimates By $0.12 EPS

loanDepot (NYSE:LDI) released its quarterly earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12), FiscalAI reports. The firm had revenue of $302.21 million for the quarter, compared to analysts’ expectations of $320.32 million. loanDepot had a negative return on equity of 28.25% and a negative net margin of 5.52%.

loanDepot Price Performance

Shares of NYSE:LDI opened at $0.62 on Monday. loanDepot has a one year low of $0.48 and a one year high of $3.24. The stock has a market capitalization of $211.14 million, a price-to-earnings ratio of -2.08 and a beta of 3.56. The company has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $1.25. The company has a debt-to-equity ratio of 10.60, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LDI. Wall Street Zen cut loanDepot from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Zacks Research raised loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $1.38.

Insider Activity

In related news, CEO Anthony Hsieh purchased 364,367 shares of the stock in a transaction that occurred 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 acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 1,000,000 shares of company stock worth $911,936 over the last 90 days. Company insiders own 65.90% of the company’s stock.

About loanDepot

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.