loanDepot (NYSE:LDI) Issues Quarterly Earnings Results

loanDepot (NYSE:LDI) announced its quarterly earnings data on Monday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12), FiscalAI reports. The firm had revenue of $302.21 million during the quarter, compared to analyst estimates of $320.32 million. loanDepot had a negative net margin of 5.52% and a negative return on equity of 28.25%.

loanDepot Price Performance

NYSE:LDI opened at $0.62 on Monday. The company has a debt-to-equity ratio of 10.60, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $211.14 million, a price-to-earnings ratio of -2.08 and a beta of 3.56. The company has a 50 day moving average price of $0.67 and a 200-day moving average price of $1.25. loanDepot has a 1-year low of $0.48 and a 1-year high of $3.24.

Insider Transactions at loanDepot

In other news, CEO Anthony Hsieh purchased 60,208 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average cost of $0.92 per share, with a total value of $55,391.36. Following the completion of the acquisition, the chief executive officer owned 1,000,000 shares of the company’s stock, valued at approximately $920,000. This represents a 6.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 1,000,000 shares of company stock worth $911,936 over the last quarter. Corporate insiders own 65.90% of the company’s stock.

Analysts Set New Price Targets

LDI has been the topic of several research reports. The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a report on Monday, August 10th. Weiss Ratings upgraded shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Wall Street Zen downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $1.38.

loanDepot Company Profile

loanDepot, Inc is a U.S.-based residential mortgage lender that originates home loans through digital, direct-to-consumer, retail, and partner channels. The company serves homebuyers and homeowners seeking financing for home purchases, mortgage refinancing, and other residential lending needs.

The company offers conventional, government-backed, and jumbo mortgage products, along with home equity lending and related technology-enabled services. loanDepot has also developed digital tools designed to streamline applications, underwriting, closing, and the overall mortgage experience for borrowers and lending partners.

Founded in 2010 by Anthony Hsieh, loanDepot operates primarily in the United States.