loanDepot (NYSE:LDI) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded loanDepot from a "hold" to a strong sell, and the stock's average analyst consensus is a "Strong Sell" with a consensus price target of $2.38.
• loanDepot reported a Q that missed expectations (EPS of ($0.10) vs. ($0.04) expected and revenue $316.3M vs. $333.3M expected), with negative return on equity and net margin, and the shares trade near $1.56 with a $518M market cap.
• CEO Anthony Li Hsieh sold 884,495 shares in January at an average $2.70, and insiders collectively own 78.05% of the company’s stock.

loanDepot (NYSE:LDI - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Bank of America set a $1.75 target price on shares of loanDepot in a research report on Monday, December 1st. The Goldman Sachs Group set a $2.40 price objective on loanDepot in a research note on Tuesday, January 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of loanDepot in a report on Thursday, January 22nd. Finally, BTIG Research reissued a "neutral" rating on shares of loanDepot in a research note on Wednesday, March 11th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, loanDepot has an average rating of "Strong Sell" and a consensus price target of $2.38.

loanDepot Stock Performance

Shares of NYSE LDI opened at $1.56 on Wednesday. The stock's 50-day moving average is $2.16 and its 200 day moving average is $2.63. The stock has a market cap of $518.19 million, a price-to-earnings ratio of -5.36, a P/E/G ratio of 0.47 and a beta of 3.47. loanDepot has a 1-year low of $1.01 and a 1-year high of $5.05. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 8.22.

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 the consensus estimate of ($0.04) by ($0.06). The business had revenue of $316.27 million for the quarter, compared to analysts' expectations of $333.29 million. loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%. On average, sell-side analysts anticipate that loanDepot will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony Li Hsieh sold 884,495 shares of the firm's stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.70, for a total value of $2,388,136.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 78.05% of the stock is owned by insiders.

Institutional Investors Weigh In On loanDepot

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. bought a new position in shares of loanDepot during the first quarter valued at approximately $44,000. Goldman Sachs Group Inc. raised its holdings in loanDepot by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,435 shares of the company's stock worth $436,000 after purchasing an additional 85,129 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of loanDepot in the 1st quarter worth about $122,000. Geode Capital Management LLC boosted its stake 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 purchasing an additional 1,104,021 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of loanDepot during the second quarter valued at about $67,000. Hedge funds and other institutional investors own 39.39% of the company's stock.

About loanDepot

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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