Zacks Research Downgrades loanDepot (NYSE:LDI) to Strong Sell

loanDepot (NYSE:LDI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group set a $2.40 target price on shares of loanDepot in a report on Tuesday, January 6th. BTIG Research reissued a “neutral” rating on shares of loanDepot in a research report on Wednesday, March 11th. Bank of America set a $1.75 price objective on shares of loanDepot in a research note on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $2.38.

loanDepot Stock Up 3.0%

LDI stock opened at $1.56 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 8.22. The business has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.63. The company has a market cap of $518.19 million, a price-to-earnings ratio of -5.36, a P/E/G ratio of 0.47 and a beta of 3.47. loanDepot has a twelve month low of $1.01 and a twelve month high of $5.05.

loanDepot (NYSE:LDI) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $316.27 million for the quarter, compared to the consensus estimate of $333.29 million. loanDepot had a negative return on equity of 18.29% and a negative net margin of 5.27%. Analysts anticipate that loanDepot will post -0.23 EPS for the current fiscal year.

Insider Activity at loanDepot

In other news, CEO Anthony Li Hsieh sold 884,495 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $2.70, for a total value of $2,388,136.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 78.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LDI. Leisure Capital Management bought a new stake in shares of loanDepot during the third quarter worth approximately $1,535,000. Continental Advisors LLC bought a new position in shares of loanDepot during the second quarter worth approximately $656,000. MAI Capital Management acquired a new stake in loanDepot during the 2nd quarter worth approximately $53,000. Alight Capital Management LP acquired a new stake in loanDepot during the 3rd quarter worth approximately $1,382,000. Finally, Jones Financial Companies Lllp boosted its stake in loanDepot by 8,934.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 9,034 shares of the company’s stock valued at $28,000 after purchasing an additional 8,934 shares during the period. Institutional investors and hedge funds 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.