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

loanDepot (NYSE:LDI) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday, Zacks reports.

Several other research firms also recently commented on LDI. Bank of America reiterated an “underperform” rating on shares of loanDepot in a report on Tuesday. Weiss Ratings cut shares of loanDepot from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research note on Monday, August 10th. Finally, Wall Street Zen downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, loanDepot has a consensus rating of “Strong Sell” and an average price target of $1.38.

loanDepot Stock Down 6.0%

LDI stock opened at $0.44 on Wednesday. loanDepot has a 1-year low of $0.44 and a 1-year high of $3.24. The business has a fifty day moving average price of $0.64 and a 200-day moving average price of $1.21. The company has a debt-to-equity ratio of 11.32, a current ratio of 1.09 and a quick ratio of 1.11. The stock has a market capitalization of $149.99 million, a P/E ratio of -1.23 and a beta of 3.56.

Insider Activity

In other news, CEO Anthony Hsieh acquired 364,367 shares of loanDepot stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $0.92 per share, for a total transaction of $335,217.64. Following the completion of the transaction, the chief executive officer owned 471,466 shares in the company, valued at $433,748.72. The trade was a 340.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders acquired 1,000,000 shares of company stock valued at $911,936. Company insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of loanDepot during the 1st quarter valued at about $1,318,000. Wasatch Advisors LP boosted its holdings 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 worth $2,870,000 after buying an additional 609,893 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of loanDepot by 192.4% in the first quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock worth $1,164,000 after buying an additional 539,452 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of loanDepot by 258.3% in the first quarter. Dimensional Fund Advisors LP now owns 579,252 shares of the company’s stock worth $822,000 after buying an additional 417,576 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in loanDepot during the second quarter valued at approximately $359,000. 39.39% of the stock is currently owned by institutional investors.

About loanDepot

loanDepot, Inc. is a U.S.-based mortgage lender that provides home loans to consumers. Its offerings include mortgages for home purchases and refinancing, delivered through its retail branches and digital channels. The company also works with mortgage brokers and other lending partners and provides mortgage servicing. Its technology platform supports the application and loan-management process. Founded in 2010 by mortgage entrepreneur Anthony Hsieh, loanDepot serves customers across the United States.