loanDepot, Inc. (NYSE:LDI) Receives Average Recommendation of “Reduce” from Analysts

Shares of loanDepot, Inc. (NYSE:LDI) have earned an average rating of “Reduce” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $2.3833.

LDI has been the topic of several analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, June 20th.

loanDepot Stock Up 0.4%

Shares of NYSE:LDI opened at $1.20 on Friday. The company has a market cap of $403.69 million, a price-to-earnings ratio of -3.51 and a beta of 3.31. The firm’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.26. loanDepot has a fifty-two week low of $1.10 and a fifty-two week high of $5.05.

Institutional Trading of loanDepot

A number of institutional investors have recently added to or reduced their stakes in LDI. Invesco Ltd. purchased a new stake in loanDepot during the first quarter worth about $44,000. Goldman Sachs Group Inc. boosted its holdings in loanDepot by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company’s stock worth $436,000 after buying an additional 85,129 shares in the last quarter. Jane Street Group LLC purchased a new stake in loanDepot during the first quarter worth about $122,000. Geode Capital Management LLC boosted its holdings in loanDepot by 134.4% during the second quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company’s stock worth $2,446,000 after buying an additional 1,104,021 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in loanDepot during the second quarter worth about $98,000. 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.