loanDepot, Inc. (NYSE:LDI) Stock Now Rated "Strong Sell" by Sell-Side Brokerages

Key Points

• Analysts are broadly bearish on loanDepot: Five firms give the stock an average “Strong Sell” rating—three sell and two hold—with an average one-year price target of $1.38.
• LDI opened at $0.54, near its 12-month low of $0.48, and well below its 50-day and 200-day moving averages of $0.67 and $1.24, respectively.
• Insiders have bought 1 million shares worth about $912,000 over the past 90 days; company insiders own 65.9% of the stock.

loanDepot, Inc. (NYSE:LDI - Get Free Report) has been assigned an average recommendation of "Strong Sell" from the five research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $1.38.

A number of brokerages recently commented on LDI. Bank of America reaffirmed an "underperform" rating on shares of loanDepot in a research note on Tuesday. Weiss Ratings raised loanDepot from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, October 27th. Wall Street Zen lowered loanDepot from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Zacks Research upgraded loanDepot from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Finally, The Goldman Sachs Group set a $1.00 target price on loanDepot in a report on Monday, August 10th.

loanDepot Stock Performance

LDI stock opened at $0.54 on Tuesday. The business's fifty day moving average is $0.67 and its 200-day moving average is $1.24. 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 cap of $181.41 million, a P/E ratio of -1.79 and a beta of 3.56. loanDepot has a twelve month low of $0.48 and a twelve month high of $3.24.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Hsieh purchased 60,208 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $0.92 per share, for a total transaction of $55,391.36. Following the transaction, the chief executive officer directly owned 1,000,000 shares of the company's stock, valued at approximately $920,000. The trade was a 6.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have purchased 1,000,000 shares of company stock valued at $911,936. Company insiders own 65.90% of the company's stock.

Institutional Investors Weigh In On loanDepot

Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its position in shares of loanDepot by 148.6% during the third quarter. Citizens Financial Group Inc. RI now owns 329,017 shares of the company's stock worth $194,000 after purchasing an additional 196,682 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of loanDepot in the 2nd quarter valued at $70,000. Requisite Capital Management LLC increased its position 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 valued at $75,000 after buying an additional 40,000 shares in the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot during the 2nd quarter worth $347,000. Finally, Bank of New York Mellon Corp acquired a new stake in loanDepot during the 2nd quarter worth $359,000. Institutional investors own 39.39% of the company's stock.

loanDepot Company Profile

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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