loanDepot, Inc. (NYSE:LDI) Stock Has Average Price Target of $1.38 According to Brokerages

loanDepot, Inc. (NYSE:LDI) has been given an average recommendation of “Strong Sell” by the five ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1.38.

Several brokerages have commented on LDI. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Bank of America reiterated an “underperform” rating on shares of loanDepot in a report on Tuesday. The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a research report on Monday, August 10th. Wall Street Zen downgraded shares of loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings upgraded shares of loanDepot from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th.

loanDepot Price Performance

Shares of LDI opened at $0.54 on Tuesday. The company has a debt-to-equity ratio of 10.60, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day simple moving average of $0.67 and a 200 day simple moving average of $1.24. loanDepot has a 52-week low of $0.48 and a 52-week high of $3.24. The firm has a market capitalization of $181.41 million, a PE ratio of -1.79 and a beta of 3.56.

Insiders Place Their Bets

In related news, CEO Anthony Hsieh bought 364,367 shares of loanDepot stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $0.92 per share, with a total value of $335,217.64. Following the purchase, the chief executive officer owned 471,466 shares in the company, valued at approximately $433,748.72. This trade represents a 340.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 1,000,000 shares of company stock valued at $911,936. 65.90% of the stock is currently owned by corporate insiders.

Institutional Trading of loanDepot

A number of institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI boosted its position in shares of loanDepot by 148.6% during the third quarter. Citizens Financial Group Inc. RI now owns 329,017 shares of the company’s stock worth $194,000 after buying an additional 196,682 shares during the period. Squarepoint Ops LLC bought a new position in shares of loanDepot during the second quarter worth about $70,000. Requisite Capital Management LLC raised its position in loanDepot by 200.0% in the 2nd quarter. Requisite Capital Management LLC now owns 60,000 shares of the company’s stock valued at $75,000 after buying an additional 40,000 shares during the last quarter. Cullen Capital Management LLC acquired a new stake in loanDepot in the 2nd quarter valued at approximately $347,000. Finally, Bank of New York Mellon Corp acquired a new stake in loanDepot in the 2nd quarter valued at approximately $359,000. 39.39% of the stock is currently owned by institutional investors.

About loanDepot

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.