LoanDepot (NYSE: LDI) Downgraded by Zacks Investment Research


LoanDepot (NYSE: LDI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Tuesday, Zacks.com reports.

According to Zacks, “loanDepot Inc. provides mortgage and non-mortgage loan products. The company offers consumer credit products to its customers, ranging from home loans to unsecured personal loans. LoanDepot Inc. is based in California, United States. “

LDI has been the subject of several other research reports. Barclays lowered its price target on LoanDepot from $ 11.00 to $ 10.00 and set a rating of “equal weight” to the stock in a research note on Monday, October 11. Credit Suisse Group reduced its price target on LoanDepot from $ 15.00 to $ 13.00 and established an “outperformance” rating on the stock in a research note on Tuesday, November 2. Citigroup cut its target price on LoanDepot from $ 14.00 to $ 12.00 and set a “buy” rating on the stock in a research note on Tuesday, November 2. Morgan Stanley raised its target price on LoanDepot from $ 7.00 to $ 7.50 and gave the company an “equal weight” rating in a Tuesday, November 2 research note. Finally, Raymond James reduced his price target on LoanDepot from $ 11.00 to $ 10.00 and set an “outperformance” rating on the stock in a research note on Tuesday, November 2. Two analysts rated the stock with a sell rating, five assigned a conservation rating, and eight gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average “Hold” rating and a consensus target price of $ 16.58.

LDI shares opened at $ 5.10 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10, and a debt ratio of 1.23. The company has a 50-day moving average price of $ 5.63 and a two-hundred-day moving average price of $ 7.92. LoanDepot has a 12 month low of $ 4.24 and a 12 month high of $ 39.85.

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LoanDepot (NYSE: LDI) last released its quarterly results on Sunday, October 31. The company reported EPS of $ 0.46 for the quarter, beating analyst consensus estimates of $ 0.39 by $ 0.07. LoanDepot had a return on equity of 64.38% and a net margin of 2.43%. The company posted revenue of $ 923.76 million in the quarter, compared to analysts’ estimates of $ 870.30 million. On average, sell-side analysts predict that LoanDepot will show 1.87 EPS for the current year.

Separately, CEO Anthony Li Hsieh bought 182,150 shares of the company in a transaction that took place on Monday, November 8. The shares were purchased at an average cost of $ 6.98 per share, for a total value of $ 1,271,407.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC’s website. In addition, CFO Patrick J. Flanagan sold 75,000 shares of the company in a trade on Monday, December 6. The stock was sold for an average price of $ 4.75, for a total value of $ 356,250.00. Disclosure of this sale can be found here. Insiders have purchased a total of 954,755 shares of the company valued at $ 6,504,255 in the past three months.

A number of institutional investors have recently changed their positions in the stock. Goldman Sachs Group Inc. increased its stake in LoanDepot by 18.1% in the 3rd quarter. Goldman Sachs Group Inc. now owns 14,981 shares of the company valued at $ 101,000 after purchasing an additional 2,296 shares during the period. BlackRock Inc. increased its stake in LoanDepot by 5.0% in the 3rd quarter. BlackRock Inc. now owns 63,955 shares of the company valued at $ 433,000 after purchasing an additional 3,036 shares in the last quarter. Geode Capital Management LLC increased its stake in LoanDepot by 27.1% in the 2nd quarter. Geode Capital Management LLC now owns 32,412 shares of the company valued at $ 416,000 after purchasing an additional 6,908 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in LoanDepot by 417.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 11,301 shares of the company valued at $ 145,000 after purchasing an additional 9,116 shares in the last quarter. Finally, Capstone Financial Advisors Inc. purchased a new stake in LoanDepot in the third quarter for a value of $ 68,000. 0.86% of the shares are currently held by institutional investors.

About LoanDepot

LoanDepot, Inc is engaged in the origination and management of conventional and government mortgages in the United States. It offers conventional agency compliant and blue chip loans, home equity loans, Federal Housing Administration loans, and VA loans. The company also provides settlement services, which include captive securities and escrow transactions; real estate services covering captive real estate reference activities; and insurance services, including homeowner services, as well as other consumer insurance policies.

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Analyst Recommendations for LoanDepot (NYSE: LDI)

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