loanDepot, Inc. (NYSE:LDI) Stock Has Average Target Price of $1.92 According to Analysts

loanDepot, Inc. (NYSE:LDI) has earned a consensus rating of “Reduce” from the four ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $1.38.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of loanDepot from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Wall Street Zen raised shares of loanDepot from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of loanDepot from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, The Goldman Sachs Group set a $1.00 price target on shares of loanDepot in a research report on Monday, August 10th.

Insider Buying and Selling at loanDepot

In other news, CEO Anthony Hsieh bought 60,208 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $0.92 per share, for a total transaction of $55,391.36. Following the completion of the purchase, the chief executive officer owned 1,000,000 shares of the company’s stock, valued at approximately $920,000. The trade was a 6.41% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 1,000,000 shares of company stock worth $911,936 over the last three months. Company insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of large investors have recently bought and sold shares of LDI. Wasatch Advisors LP boosted its stake in loanDepot by 36.2% in the second quarter. Wasatch Advisors LP now owns 2,296,300 shares of the company’s stock worth $2,870,000 after purchasing an additional 609,893 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of loanDepot during the first quarter worth $1,318,000. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 539,452 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of loanDepot by 258.3% during the first quarter. Dimensional Fund Advisors LP now owns 579,252 shares of the company’s stock worth $822,000 after purchasing an additional 417,576 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of loanDepot in the second quarter valued at $359,000. 39.39% of the stock is currently owned by institutional investors.

loanDepot Stock Up 3.4%

Shares of NYSE LDI opened at $0.58 on Tuesday. loanDepot has a 52-week low of $0.56 and a 52-week high of $3.80. 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 business has a fifty day moving average of $0.80 and a two-hundred day moving average of $1.11. The stock has a market cap of $196.61 million, a PE ratio of -1.94 and a beta of 3.45.

loanDepot Company Profile

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.