loanDepot, Inc. (NYSE:LDI) Given Average Recommendation of "Strong Sell" by Brokerages

Key Points

• loanDepot received a consensus “Strong Sell” rating from five analysts: three issued sell ratings and two recommended holding the stock. The average 12-month price target is approximately $1.92, including Goldman Sachs’ $1.00 target.
• CEO Anthony Hsieh purchased 60,208 shares at an average price of $0.92, while insiders collectively own 65.9% of the company. Institutional investors and hedge funds own an additional 39.39% stake.
• LDI shares opened at $0.83, near the company’s one-year low of $0.75, while loanDepot reported a high debt-to-equity ratio of 10.60 and a market capitalization of about $281 million.

Shares of loanDepot, Inc. (NYSE:LDI - Get Free Report) have received a consensus recommendation of "Strong Sell" from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $1.9167.

Several equities analysts have recently issued reports on LDI shares. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research note on Monday, August 10th. Wall Street Zen upgraded loanDepot from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of loanDepot in a research report on Friday, July 17th. Finally, Zacks Research downgraded loanDepot from a "hold" rating to a "strong sell" rating in a report on Thursday, August 27th.

Insider Buying and Selling at loanDepot

In related news, CEO Anthony Hsieh acquired 60,208 shares of the stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $0.92 per share, for a total transaction of $55,391.36. Following the completion of the transaction, the chief executive officer directly owned 1,000,000 shares of the company's stock, valued at $920,000. The trade was a 6.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 1,000,000 shares of company stock valued at $911,936 over the last ninety days. Corporate insiders own 65.90% of the company's stock.

Institutional Investors Weigh In On loanDepot

Several large investors have recently added to or reduced their stakes in LDI. Squarepoint Ops LLC acquired a new stake in shares of loanDepot during the 2nd quarter worth approximately $70,000. Requisite Capital Management LLC lifted its holdings in shares of loanDepot by 200.0% in the 2nd quarter. Requisite Capital Management LLC now owns 60,000 shares of the company's stock worth $75,000 after purchasing an additional 40,000 shares in the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot in the 2nd quarter valued at $347,000. Bank of New York Mellon Corp acquired a new stake in loanDepot in the 2nd quarter valued at $359,000. Finally, Wasatch Advisors LP increased its stake in loanDepot by 36.2% during the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company's stock valued at $2,870,000 after purchasing an additional 609,893 shares in the last quarter. Institutional investors and hedge funds own 39.39% of the company's stock.

loanDepot Stock Up 6.8%

Shares of NYSE LDI opened at $0.83 on Friday. The company has a 50 day simple moving average of $0.98 and a 200 day simple moving average of $1.28. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. loanDepot has a 1 year low of $0.75 and a 1 year high of $5.05. The firm has a market cap of $281.40 million, a PE ratio of -2.78 and a beta of 3.40.

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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