Renaissance Technologies LLC Increases Stake in loanDepot, Inc. $LDI

Renaissance Technologies LLC raised its stake in loanDepot, Inc. (NYSE:LDI) by 192.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 819,800 shares of the company’s stock after purchasing an additional 539,452 shares during the quarter. Renaissance Technologies LLC’s holdings in loanDepot were worth $1,164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LDI. Russell Investments Group Ltd. bought a new position in shares of loanDepot in the third quarter worth approximately $35,000. SG Americas Securities LLC purchased a new position in shares of loanDepot in the fourth quarter worth $26,000. Harbour Investments Inc. raised its holdings in loanDepot by 94.7% during 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 during the last quarter. Bank of Montreal Can bought a new stake in loanDepot during the 4th quarter valued at $38,000. Finally, Insigneo Advisory Services LLC purchased a new stake in loanDepot during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

loanDepot Stock Up 8.1%

Shares of NYSE:LDI opened at $0.95 on Friday. loanDepot, Inc. has a 52-week low of $0.83 and a 52-week high of $5.05. The firm has a market capitalization of $321.27 million, a P/E ratio of -3.17 and a beta of 3.37. The stock has a 50 day moving average price of $1.10 and a 200-day moving average price of $1.46. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LDI shares. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Finally, The Goldman Sachs Group set a $1.00 price target on loanDepot in a report on Monday. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $1.92.

loanDepot Profile

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.