loanDepot (NYSE:LDI) Upgraded at Zacks Research

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

Several other research analysts have also recently commented on the stock. Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. The Goldman Sachs Group cut their price target on loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $2.00.

loanDepot Price Performance

Shares of loanDepot stock opened at $1.00 on Wednesday. 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 stock has a market capitalization of $339.51 million, a price-to-earnings ratio of -2.96 and a beta of 3.33. loanDepot has a twelve month low of $0.93 and a twelve month high of $5.05. The company has a 50-day simple moving average of $1.16 and a two-hundred day simple moving average of $1.59.

Institutional Investors Weigh In On loanDepot

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in loanDepot during the fourth quarter worth about $26,000. Russell Investments Group Ltd. bought a new position in loanDepot in the 3rd quarter valued at about $35,000. Harbour Investments Inc. raised its position in shares of loanDepot by 94.7% in the 4th quarter. Harbour Investments Inc. now owns 17,522 shares of the company’s stock valued at $36,000 after buying an additional 8,522 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of loanDepot in the 4th quarter valued at approximately $38,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of loanDepot in the 4th quarter valued at approximately $39,000. Institutional investors 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.