loanDepot, Inc. (NYSE:LDI) Receives $2.00 Average Price Target from Brokerages

loanDepot, Inc. (NYSE:LDI) has been assigned an average recommendation of “Strong Sell” from the five research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $2.00.

Several research analysts recently issued reports on LDI shares. Zacks Research cut loanDepot from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group decreased their target price on loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, Wall Street Zen downgraded loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th.

loanDepot Price Performance

Shares of LDI stock opened at $1.01 on Thursday. The company has a market capitalization of $342.89 million, a P/E ratio of -2.99 and a beta of 3.33. The company’s 50-day simple moving average is $1.16 and its two-hundred day simple moving average is $1.60. loanDepot has a one year low of $0.93 and a one year high of $5.05. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LDI. Russell Investments Group Ltd. purchased a new stake in shares of loanDepot in the 3rd quarter worth approximately $35,000. SG Americas Securities LLC purchased a new position in loanDepot during the fourth quarter valued at approximately $26,000. Harbour Investments Inc. increased its holdings in loanDepot by 94.7% during the fourth quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after buying an additional 8,522 shares during the period. Bank of Montreal Can bought a new position in loanDepot in the fourth quarter worth approximately $38,000. Finally, Insigneo Advisory Services LLC bought a new position in loanDepot in the fourth quarter worth approximately $39,000. 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.