loanDepot (NYSE:LDI) Stock Rating Lowered by Wall Street Zen

loanDepot (NYSE:LDI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

LDI has been the subject of several other reports. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Finally, BTIG Research restated a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $2.38.

loanDepot Trading Up 1.3%

Shares of NYSE:LDI opened at $1.19 on Friday. loanDepot has a 12-month low of $1.09 and a 12-month high of $5.05. The company has a market capitalization of $400.32 million, a PE ratio of -3.49 and a beta of 3.31. The business has a 50 day moving average of $1.35 and a two-hundred day moving average of $1.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in loanDepot in the 1st quarter valued at $1,318,000. Renaissance Technologies LLC raised its position in loanDepot by 192.4% during the first quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock worth $1,164,000 after acquiring an additional 539,452 shares during the period. Dimensional Fund Advisors LP raised its position in loanDepot by 258.3% during the first quarter. Dimensional Fund Advisors LP now owns 579,252 shares of the company’s stock worth $822,000 after acquiring an additional 417,576 shares during the period. Bank of New York Mellon Corp raised its position in loanDepot by 10.6% during the first quarter. Bank of New York Mellon Corp now owns 248,355 shares of the company’s stock worth $353,000 after acquiring an additional 23,769 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in loanDepot by 72.2% during the first quarter. Citizens Financial Group Inc. RI now owns 67,952 shares of the company’s stock valued at $96,000 after purchasing an additional 28,500 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.

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.