Zacks Research Upgrades loanDepot (NYSE:LDI) to “Hold”

loanDepot (NYSE:LDI) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. The Goldman Sachs Group set a $1.00 target price on shares of loanDepot in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $1.92.

loanDepot Stock Performance

Shares of LDI opened at $0.62 on Monday. loanDepot has a 1 year low of $0.57 and a 1 year high of $3.80. The company has a market cap of $209.45 million, a price-to-earnings ratio of -2.07 and a beta of 3.45. 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 firm has a fifty day moving average of $0.84 and a 200-day moving average of $1.14.

Insider Buying and Selling

In other news, CEO Anthony Hsieh bought 60,208 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was purchased at an average cost of $0.92 per share, for a total transaction of $55,391.36. Following the completion of the transaction, the chief executive officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $920,000. This trade represents a 6.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 1,000,000 shares of company stock worth $911,936 over the last quarter. 65.90% of the stock is owned by insiders.

Institutional Trading of loanDepot

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in loanDepot by 192.4% during the first quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock worth $1,164,000 after acquiring an additional 539,452 shares during the period. Wasatch Advisors LP lifted its holdings in 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 last quarter. Lazard Asset Management LLC acquired a new stake in loanDepot in the 1st quarter valued at about $1,318,000. Cullen Capital Management LLC bought a new position in shares of loanDepot during the 2nd quarter valued at about $347,000. Finally, Bank of New York Mellon Corp bought a new position in shares of loanDepot during the 2nd quarter valued at about $359,000. Institutional investors and hedge funds own 39.39% of the company’s stock.

About loanDepot

loanDepot, Inc (NYSE: LDI) is a U.S.-based mortgage lending company that provides home financing through digital and traditional channels. Its primary business includes originating purchase mortgages, refinance loans and other residential lending products for consumers buying, refinancing or accessing equity in their homes.

The company operates a technology-enabled lending platform designed to simplify the mortgage application and underwriting process. loanDepot also provides related services, including mortgage servicing and support for borrowers throughout the life of their loans.