Lazard Asset Management LLC Purchases Shares of 928,317 loanDepot, Inc. $LDI

Lazard Asset Management LLC purchased a new position in shares of loanDepot, Inc. (NYSE:LDI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 928,317 shares of the company’s stock, valued at approximately $1,318,000. Lazard Asset Management LLC owned about 0.27% of loanDepot as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in shares of loanDepot by 192.4% during the 1st quarter. Renaissance Technologies LLC now owns 819,800 shares of the company’s stock valued at $1,164,000 after buying an additional 539,452 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in loanDepot by 258.3% in the first quarter. Dimensional Fund Advisors LP now owns 579,252 shares of the company’s stock worth $822,000 after buying an additional 417,576 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in loanDepot by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 248,355 shares of the company’s stock worth $353,000 after buying an additional 23,769 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in loanDepot by 72.2% during the first quarter. Citizens Financial Group Inc. RI now owns 67,952 shares of the company’s stock valued at $96,000 after acquiring an additional 28,500 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in loanDepot during the first quarter valued at approximately $57,000. 39.39% of the stock is currently owned by institutional investors.

loanDepot Price Performance

LDI opened at $1.06 on Wednesday. The stock’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.55. The company has a debt-to-equity ratio of 10.26, a current ratio of 1.11 and a quick ratio of 1.11. loanDepot, Inc. has a 1 year low of $0.93 and a 1 year high of $5.05. The firm has a market cap of $359.78 million, a price-to-earnings ratio of -3.13 and a beta of 3.37.

Analyst Upgrades and Downgrades

LDI has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price objective on shares of loanDepot from $2.10 to $1.25 and set a “sell” rating for the company in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of loanDepot in a report on Friday, July 17th. Wall Street Zen cut shares of loanDepot from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. 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 equities 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, loanDepot currently has a consensus rating of “Reduce” and a consensus price target of $2.00.

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.