loanDepot (NYSE:LDI) Trading Up 5.1% - Should You Buy?

loanDepot, Inc. (NYSE:LDI - Get Free Report) shares were up 5.1% during trading on Wednesday . The company traded as high as $1.52 and last traded at $1.54. Approximately 115,648 shares changed hands during 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 shares of loanDepot and gave the company a "neutral" rating in a research note on Wednesday.

loanDepot Trading Up 14.3%

The company's fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.42. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.48. The firm has a market cap of $618.58 million, a P/E ratio of -4.17 and a beta of 3.33.

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

Hedge Funds Weigh In On loanDepot

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in shares of loanDepot by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company's stock worth $436,000 after acquiring an additional 85,129 shares in the last quarter. Wilshire Advisors LLC grew its stake in shares of loanDepot by 39.8% in the first quarter. Wilshire Advisors LLC now owns 27,727 shares of the company's stock valued at $33,000 after buying an additional 7,899 shares in the last quarter. Jane Street Group LLC bought a new position in shares of loanDepot in the first quarter valued at $122,000. Knightsbridge Asset Management LLC grew its stake in shares of loanDepot by 0.6% in the first quarter. Knightsbridge Asset Management LLC now owns 3,105,873 shares of the company's stock valued at $3,696,000 after buying an additional 17,763 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in shares of loanDepot in the first quarter valued at $1,469,000. 39.39% of the stock is owned by 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.