Wall Street Zen Upgrades loanDepot (NYSE:LDI) to “Hold”

loanDepot (NYSE:LDI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

LDI has been the topic of several other reports. The Goldman Sachs Group reduced their target price on loanDepot from $2.10 to $1.25 and set a “sell” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Finally, Zacks Research raised shares of loanDepot from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $2.00.

loanDepot Trading Down 0.2%

Shares of loanDepot stock opened at $0.95 on Friday. loanDepot has a fifty-two week low of $0.93 and a fifty-two week high of $5.05. The business’s fifty day moving average is $1.13 and its two-hundred day moving average is $1.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 10.26. The firm has a market cap of $320.93 million, a PE ratio of -3.17 and a beta of 3.37.

Hedge Funds Weigh In On loanDepot

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its position in loanDepot by 622.6% during the 3rd quarter. Millennium Management LLC now owns 5,620,553 shares of the company’s stock worth $17,255,000 after purchasing an additional 4,842,751 shares in the last quarter. Vanguard Group Inc. increased its position in shares of loanDepot by 5.3% in the third quarter. Vanguard Group Inc. now owns 4,528,264 shares of the company’s stock worth $13,902,000 after acquiring an additional 226,347 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of loanDepot by 22.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,596,426 shares of the company’s stock valued at $5,375,000 after acquiring an additional 472,159 shares during the period. Wasatch Advisors LP raised its stake in shares of loanDepot by 36.2% in the 2nd quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock valued at $2,870,000 after acquiring an additional 609,893 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of loanDepot by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,194,199 shares of the company’s stock valued at $4,543,000 after acquiring an additional 148,644 shares in the last quarter. 39.39% of the stock is owned by institutional investors and hedge funds.

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.