loanDepot (NYSE:LDI) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded loanDepot from “Hold” to “Sell,” contributing to an overall analyst rating of “Reduce” and an average price target of $1.38.
• loanDepot shares opened at $0.58, near their one-year low of $0.48, while reporting a high debt-to-equity ratio of 10.60 and a negative price-to-earnings ratio.
• Insiders have shown buying interest, purchasing 1 million shares worth approximately $911,936 over the past 90 days; insiders own 65.90% of the company.

loanDepot (NYSE:LDI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings raised shares of loanDepot from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Zacks Research upgraded shares of loanDepot from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Finally, The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $1.38.

loanDepot Price Performance

NYSE LDI opened at $0.58 on Friday. loanDepot has a one year low of $0.48 and a one year high of $3.24. The stock has a 50-day moving average of $0.70 and a 200 day moving average of $1.31. The company has a debt-to-equity ratio of 10.60, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $197.62 million, a price-to-earnings ratio of -1.95 and a beta of 3.45.

Insider Transactions at loanDepot

In other news, CEO Anthony Hsieh bought 364,367 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $0.92 per share, with a total value of $335,217.64. Following the completion of the transaction, the chief executive officer owned 471,466 shares of the company's stock, valued at approximately $433,748.72. This trade represents a 340.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought 1,000,000 shares of company stock valued at $911,936 over the last 90 days. Company insiders own 65.90% of the company's stock.

Institutional Investors Weigh In On loanDepot

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new stake in loanDepot during the first quarter valued at approximately $57,000. Squarepoint Ops LLC bought a new position in loanDepot in the second quarter worth approximately $70,000. Requisite Capital Management LLC raised its position in loanDepot by 200.0% in the second quarter. Requisite Capital Management LLC now owns 60,000 shares of the company's stock worth $75,000 after acquiring an additional 40,000 shares during the period. Citizens Financial Group Inc. RI raised its position in loanDepot by 72.2% in the first quarter. Citizens Financial Group Inc. RI now owns 67,952 shares of the company's stock worth $96,000 after acquiring an additional 28,500 shares during the period. Finally, Cullen Capital Management LLC bought a new position in loanDepot in the second quarter worth approximately $347,000. Hedge funds and other institutional investors own 39.39% 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.

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