loanDepot (NYSE:LDI) Rating Lowered to Sell at Wall Street Zen

Key Points

• loanDepot was downgraded to “sell” by Wall Street Zen, adding to a string of cautious analyst views on the stock.
• Other firms have also turned bearish, with Zacks Research lowering its rating to strong sell and MarketBeat showing a consensus rating of Strong Sell with a $2.38 price target.
• The company’s recent results and trading profile remain weak: loanDepot missed quarterly EPS and revenue estimates, and shares opened at $1.41, near their 52-week low of $1.09.

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

Other equities research analysts have also recently issued reports about the company. Zacks Research cut loanDepot from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of loanDepot in a report on Tuesday, April 21st. Finally, BTIG Research restated a "neutral" rating on shares of loanDepot in a research report on Wednesday, March 11th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $2.38.

loanDepot Price Performance

NYSE:LDI opened at $1.41 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 8.22. The business's 50-day simple moving average is $1.59 and its two-hundred day simple moving average is $2.21. The stock has a market cap of $470.72 million, a PE ratio of -4.13 and a beta of 3.41. loanDepot has a 52 week low of $1.09 and a 52 week high of $5.05.

loanDepot (NYSE:LDI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative net margin of 6.51% and a negative return on equity of 21.25%. As a group, analysts forecast that loanDepot will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in loanDepot by 0.4% in the fourth quarter. State Street Corp now owns 1,640,154 shares of the company's stock worth $3,395,000 after acquiring an additional 5,800 shares in the last quarter. LPL Financial LLC grew its position in loanDepot by 8.3% in the fourth quarter. LPL Financial LLC now owns 82,045 shares of the company's stock worth $170,000 after acquiring an additional 6,321 shares in the last quarter. Harbour Investments Inc. grew its position in loanDepot by 94.7% in the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company's stock worth $36,000 after acquiring an additional 8,522 shares in the last quarter. Jones Financial Companies Lllp grew its position in loanDepot by 8,934.0% in the third quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company's stock worth $28,000 after acquiring an additional 8,934 shares in the last quarter. Finally, Traynor Capital Management Inc. purchased a new position in loanDepot in the third quarter worth about $31,000. Hedge funds and other institutional investors own 39.39% of the company's stock.

loanDepot Company Profile

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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