loanDepot (NYSE:LDI) Rating Increased to Hold at Wall Street Zen

Key Points

• loanDepot has been upgraded by Wall Street Zen from a "sell" to a "hold" rating as of Saturday, reflecting analysts' changing views on the stock's performance.
• UBS Group has also raised its price target for loanDepot from $1.90 to $3.00, maintaining a "neutral" rating, while the company has an average price target of $2.85.
• CEO Anthony Li Hsieh sold over 3 million shares of loanDepot stock, marking a 39.36% decrease in his ownership position, as insiders have sold a significant total of 14.47 million shares in the past 90 days.

loanDepot (NYSE:LDI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other brokerages also recently weighed in on LDI. UBS Group raised their price target on loanDepot from $1.90 to $3.00 and gave the company a "neutral" rating in a report on Friday. BTIG Research reiterated a "neutral" rating on shares of loanDepot in a report on Wednesday, September 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of loanDepot in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, loanDepot has an average rating of "Reduce" and a consensus price target of $2.85.

loanDepot Stock Performance

Shares of loanDepot stock opened at $3.05 on Friday. loanDepot has a 12 month low of $1.01 and a 12 month high of $5.05. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.71. The business has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $1.81. The firm has a market capitalization of $1.01 billion, a P/E ratio of -9.25 and a beta of 3.45.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Li Hsieh sold 3,046,005 shares of loanDepot stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $2.64, for a total transaction of $8,041,453.20. Following the transaction, the chief executive officer directly owned 4,693,712 shares of the company's stock, valued at $12,391,399.68. The trade was a 39.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 14,470,160 shares of company stock worth $40,335,701. 78.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wilshire Advisors LLC lifted its holdings in loanDepot by 39.8% in the 1st quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock worth $33,000 after purchasing an additional 7,899 shares in the last quarter. Voya Investment Management LLC bought a new stake in loanDepot in the 3rd quarter worth approximately $43,000. Invesco Ltd. bought a new stake in loanDepot in the 1st quarter worth approximately $44,000. Los Angeles Capital Management LLC bought a new stake in loanDepot in the 2nd quarter worth approximately $46,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in loanDepot by 130.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 37,272 shares of the company's stock worth $47,000 after acquiring an additional 21,091 shares during the last quarter. 39.39% of the stock is 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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