loanDepot's (LDI) "Neutral" Rating Reaffirmed at 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.

BTIG Research reissued their neutral rating on shares of loanDepot (NYSE:LDI - Free Report) in a research note published on Wednesday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of loanDepot from $1.40 to $1.90 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of loanDepot from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $2.30.

loanDepot Stock Performance

NYSE:LDI traded up $0.26 during mid-day trading on Wednesday, reaching $4.53. The stock had a trading volume of 27,334,659 shares, compared to its average volume of 2,424,717. 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 firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.71 and a beta of 3.37. loanDepot has a twelve month low of $1.01 and a twelve month high of $4.87. The business has a 50 day simple moving average of $2.04 and a 200 day simple moving average of $1.55.

Insiders Place Their Bets

In other loanDepot news, CAO Darren Graeler sold 100,000 shares of loanDepot stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $4.30, for a total value of $430,000.00. Following the completion of the sale, the chief accounting officer directly owned 219,871 shares of the company's stock, valued at approximately $945,445.30. The trade was a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Li Hsieh sold 1,300,000 shares of loanDepot stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $4.10, for a total transaction of $5,330,000.00. Following the completion of the sale, the chief executive officer directly owned 1,350,000 shares of the company's stock, valued at $5,535,000. The trade was a 49.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,120,160 shares of company stock valued at $34,112,201. Company insiders own 83.04% of the company's stock.

Institutional Trading of loanDepot

Several institutional investors have recently made changes to their positions in LDI. Philosophy Capital Management LLC grew its stake in shares of loanDepot by 73.3% during the 1st quarter. Philosophy Capital Management LLC now owns 4,141,164 shares of the company's stock valued at $4,928,000 after buying an additional 1,751,245 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of loanDepot during the 1st quarter valued at $1,469,000. Geode Capital Management LLC lifted its holdings in shares of loanDepot by 134.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,925,712 shares of the company's stock valued at $2,446,000 after acquiring an additional 1,104,021 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of loanDepot during the 4th quarter valued at $1,691,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of loanDepot by 1,671.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 655,137 shares of the company's stock valued at $780,000 after acquiring an additional 618,153 shares in the last quarter. 39.39% of the stock is owned by hedge funds and other institutional investors.

About loanDepot

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.