loanDepot (NYSE:LDI) Earns Neutral Rating from BTIG Research

Key Points

• loanDepot's stock received a "neutral" rating from BTIG Research, reaffirming the company's positioning after prior ratings varied from "hold" to "sell" from other analysts.
• The stock price of loanDepot increased by 9.0% during mid-day trading, reaching $3.59, with a significant trading volume well above its average.
• CEO Anthony Li Hsieh sold over 3 million shares of loanDepot stock recently, resulting in a 39.36% decrease in his ownership stake.

loanDepot (NYSE:LDI - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered loanDepot from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group increased their price target on loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $2.30.

loanDepot Stock Up 9.0%

LDI stock traded up $0.30 during mid-day trading on Wednesday, reaching $3.59. The company had a trading volume of 13,555,102 shares, compared to its average volume of 1,952,897. The company has a debt-to-equity ratio of 6.71, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -10.80 and a beta of 3.37. The firm has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $1.50. loanDepot has a fifty-two week low of $1.01 and a fifty-two week high of $4.03.

Insider Activity at loanDepot

In related news, CEO Anthony Li Hsieh sold 3,046,005 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $2.64, for a total value of $8,041,453.20. Following the completion of the sale, the chief executive officer owned 4,693,712 shares in the company, valued at $12,391,399.68. This represents a 39.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 9,676,448 shares of company stock valued at $21,710,137. Insiders own 83.04% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpine Global Management LLC purchased a new position in shares of loanDepot in the 4th quarter valued at approximately $33,000. Wilshire Advisors LLC grew its stake in shares of loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock valued at $33,000 after purchasing an additional 7,899 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of loanDepot in the 2nd quarter valued at approximately $46,000. Invesco Ltd. purchased a new position in shares of loanDepot in the 1st quarter valued at approximately $44,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of loanDepot by 130.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company's stock valued at $47,000 after purchasing an additional 21,091 shares during the last quarter. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

loanDepot Company Profile

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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