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

Key Points

• Zacks Research downgraded loanDepot from “hold” to “strong sell,” contributing to an overall “strong sell” consensus rating. Analysts’ average price target is $1.92, with two holds and three sell ratings.
• loanDepot shares opened at $0.96, near the lower end of their 52-week range of $0.83 to $5.05. The company has a market capitalization of approximately $324 million and a high debt-to-equity ratio of 10.60.
• CEO Anthony Li Hsieh bought 38,612 shares at an average price of $0.94, while insiders own 65.9% of the company; hedge funds and other institutions own 39.39%.

loanDepot (NYSE:LDI - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Wall Street Zen raised shares of loanDepot from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of loanDepot in a research report on Friday, July 17th. Finally, The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, loanDepot has an average rating of "Strong Sell" and a consensus price target of $1.92.

loanDepot Stock Performance

Shares of loanDepot stock opened at $0.96 on Thursday. loanDepot has a 1-year low of $0.83 and a 1-year high of $5.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 10.60. The business has a 50-day moving average price of $1.04 and a two-hundred day moving average price of $1.36. The company has a market cap of $323.97 million, a P/E ratio of -3.20 and a beta of 3.37.

Insider Transactions at loanDepot

In other news, CEO Anthony Li Hsieh bought 38,612 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was acquired at an average cost of $0.94 per share, with a total value of $36,295.28. Following the completion of the transaction, the chief executive officer directly owned 794,427 shares of the company's stock, valued at $746,761.38. This represents a 5.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 794,427 shares of company stock valued at $719,902 over the last three months. Company insiders own 65.90% of the company's stock.

Hedge Funds Weigh In On loanDepot

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in loanDepot by 192.4% in the 1st quarter. Renaissance Technologies LLC now owns 819,800 shares of the company's stock valued at $1,164,000 after buying an additional 539,452 shares in the last quarter. Wasatch Advisors LP increased its stake in loanDepot by 36.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company's stock worth $2,870,000 after acquiring an additional 609,893 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in loanDepot in the first quarter valued at approximately $1,318,000. GSA Capital Partners LLP raised its position in shares of loanDepot by 2,266.6% during the 4th quarter. GSA Capital Partners LLP now owns 503,499 shares of the company's stock valued at $1,042,000 after buying an additional 482,224 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new stake in loanDepot during the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 39.39% of the company's stock.

About loanDepot

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.

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