loanDepot (NYSE:LDI) Rating Increased to Hold at Zacks Research

loanDepot (NYSE:LDI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on LDI. Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Tuesday, April 21st. Finally, BTIG Research reiterated a “neutral” rating on shares of loanDepot in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $2.38.

loanDepot Trading Down 1.2%

Shares of NYSE LDI opened at $1.25 on Monday. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.99. loanDepot has a fifty-two week low of $1.13 and a fifty-two week high of $5.05. The company has a market cap of $420.59 million, a price-to-earnings ratio of -3.66 and a beta of 3.31.

loanDepot (NYSE:LDI) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). loanDepot had a negative return on equity of 22.35% and a negative net margin of 6.51%.The business had revenue of $316.27 million during the quarter, compared to analysts’ expectations of $333.29 million. On average, sell-side analysts expect that loanDepot will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares during the period. Vanguard Group Inc. increased its holdings in loanDepot by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after purchasing an additional 226,347 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in loanDepot by 22.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock worth $5,375,000 after purchasing an additional 472,159 shares during the period. Geode Capital Management LLC increased its holdings in loanDepot by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock worth $4,543,000 after purchasing an additional 148,644 shares during the period. Finally, UBS Group AG increased its holdings in loanDepot by 1,125.1% during the 3rd quarter. UBS Group AG now owns 2,020,027 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,855,136 shares during the period. 39.39% of the stock is currently owned by hedge funds and other institutional investors.

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.