loanDepot (NYSE:LDI) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded loanDepot from “strong sell” to “hold,” though the broader analyst consensus remains “Reduce,” with a target price of $1.92.
• loanDepot shares opened at $0.62, near their 52-week low of $0.57, while the company reported a high debt-to-equity ratio of 10.60 and a market capitalization of approximately $209 million.
• CEO Anthony Hsieh purchased 60,208 shares, and insiders bought about 1 million shares over the past three months; insiders own 65.9% of the company, while institutions and hedge funds own 39.39%.

loanDepot (NYSE:LDI - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday, Zacks reports.

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

loanDepot Stock Performance

Shares of NYSE:LDI opened at $0.62 on Monday. The firm has a 50 day moving average of $0.84 and a 200 day moving average of $1.14. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.60. The company has a market capitalization of $209.45 million, a price-to-earnings ratio of -2.07 and a beta of 3.45. loanDepot has a 52 week low of $0.57 and a 52 week high of $3.80.

Insider Activity at loanDepot

In other loanDepot news, CEO Anthony Hsieh acquired 60,208 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $0.92 per share, for a total transaction of $55,391.36. Following the purchase, the chief executive officer owned 1,000,000 shares in the company, valued at approximately $920,000. The trade was a 6.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 1,000,000 shares of company stock worth $911,936 over the last three months. Insiders own 65.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new position in shares of loanDepot in the 2nd quarter valued at about $70,000. Requisite Capital Management LLC boosted its stake in shares of 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 buying an additional 40,000 shares during the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot during the second quarter worth about $347,000. Bank of New York Mellon Corp purchased a new position in loanDepot during the second quarter valued at approximately $359,000. Finally, Wasatch Advisors LP raised its position in loanDepot by 36.2% during the second quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company's stock valued at $2,870,000 after acquiring an additional 609,893 shares in the last quarter. 39.39% of the stock is currently owned by institutional investors and hedge funds.

About loanDepot

loanDepot, Inc NYSE: LDI is a U.S.-based mortgage lending company that provides home financing through digital and traditional channels. Its primary business includes originating purchase mortgages, refinance loans and other residential lending products for consumers buying, refinancing or accessing equity in their homes.

The company operates a technology-enabled lending platform designed to simplify the mortgage application and underwriting process. loanDepot also provides related services, including mortgage servicing and support for borrowers throughout the life of their loans.

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