UBS Group Boosts loanDepot (NYSE:LDI) Price Target to $2.50

loanDepot (NYSE:LDI) had its target price increased by UBS Group from $2.30 to $2.50 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of loanDepot from $1.50 to $1.70 and gave the company a sell rating in a research report on Thursday, August 8th. JMP Securities reissued a market perform rating on shares of loanDepot in a research report on Friday, June 21st.

loanDepot Price Performance

Shares of LDI opened at $2.41 on Thursday. loanDepot has a fifty-two week low of $1.14 and a fifty-two week high of $3.71. The firm’s 50 day moving average price is $2.24 and its 200 day moving average price is $2.24. The company has a market cap of $779.85 million, a P/E ratio of -4.23 and a beta of 3.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 4.69.

loanDepot (NYSE:LDI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. loanDepot had a negative net margin of 11.22% and a negative return on equity of 18.22%. The firm had revenue of $265.39 million for the quarter, compared to the consensus estimate of $267.66 million. On average, research analysts forecast that loanDepot will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Anthony Li Hsieh sold 58,063 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $1.84, for a total value of $106,835.92. Following the completion of the transaction, the director now owns 2,279,646 shares in the company, valued at approximately $4,194,548.64. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Anthony Li Hsieh sold 58,063 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $1.84, for a total value of $106,835.92. Following the completion of the transaction, the director now owns 2,279,646 shares in the company, valued at approximately $4,194,548.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeff Alexander Walsh sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $2.85, for a total transaction of $142,500.00. Following the completion of the transaction, the insider now owns 4,122,128 shares of the company’s stock, valued at approximately $11,748,064.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,661,047 shares of company stock worth $4,581,500. Corporate insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wolverine Asset Management LLC boosted its stake in loanDepot by 6.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock worth $1,683,000 after purchasing an additional 57,546 shares during the period. CastleKnight Management LP acquired a new stake in loanDepot during the 4th quarter worth $1,644,000. G2 Investment Partners Management LLC acquired a new stake in loanDepot during the 4th quarter worth $792,000. DC Investments Management LLC acquired a new stake in shares of loanDepot in the 1st quarter worth $559,000. Finally, Empowered Funds LLC lifted its stake in shares of loanDepot by 8.2% in the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock worth $533,000 after acquiring an additional 15,565 shares during the period. Institutional investors and hedge funds own 39.39% of the company’s stock.

loanDepot Company Profile

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.