loanDepot (NYSE:LDI) Stock Price Up 5.1% - Still a Buy?

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares were up 5.1% during mid-day trading on Wednesday . The company traded as high as $1.52 and last traded at $1.54. Approximately 115,648 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 992,480 shares. The stock had previously closed at $1.46.

Analysts Set New Price Targets

Separately, UBS Group set a $1.40 target price on loanDepot and gave the stock a "neutral" rating in a research note on Wednesday.

loanDepot Stock Performance

The company has a market cap of $540.72 million, a P/E ratio of -3.64 and a beta of 3.33. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.48. The stock has a 50 day moving average price of $1.32 and a two-hundred day moving average price of $1.43.

loanDepot (NYSE:LDI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). loanDepot had a negative return on equity of 18.41% and a negative net margin of 7.74%. The firm had revenue of $273.62 million for the quarter, compared to the consensus estimate of $275.11 million. On average, research analysts predict that loanDepot, Inc. will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On loanDepot

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in loanDepot by 167.1% during the 4th quarter. Millennium Management LLC now owns 650,987 shares of the company's stock worth $1,328,000 after acquiring an additional 407,299 shares during the period. Geode Capital Management LLC increased its stake in shares of loanDepot by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 775,097 shares of the company's stock valued at $1,582,000 after purchasing an additional 54,350 shares during the last quarter. Cannell & Spears LLC increased its stake in shares of loanDepot by 301.3% in the 4th quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company's stock valued at $2,640,000 after purchasing an additional 971,700 shares during the last quarter. Tidal Investments LLC bought a new position in shares of loanDepot in the 4th quarter valued at $1,691,000. Finally, Marshall Wace LLP boosted its holdings in shares of loanDepot by 132.2% during the 4th quarter. Marshall Wace LLP now owns 465,297 shares of the company's stock valued at $949,000 after acquiring an additional 264,928 shares in the last quarter. Institutional investors own 39.39% of the company's stock.

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.