The Goldman Sachs Group Issues Positive Forecast for loanDepot (NYSE:LDI) Stock Price

by · The Cerbat Gem

loanDepot (NYSE:LDI – Free Report) had its price target lifted by The Goldman Sachs Group from $1.70 to $2.70 in a research note released on Thursday,Benzinga reports. They currently have a sell rating on the stock.

Separately, UBS Group upped their price objective on shares of loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a report on Thursday, September 5th.

Get Our Latest Analysis on loanDepot

loanDepot Trading Down 3.9 %

NYSE LDI traded down $0.10 during trading on Thursday, reaching $2.45. 491,469 shares of the stock traded hands, compared to its average volume of 598,020. The firm has a market cap of $796.62 million, a price-to-earnings ratio of -4.91 and a beta of 3.46. loanDepot has a fifty-two week low of $1.52 and a fifty-two week high of $3.71. The company has a quick ratio of 1.18, a current ratio of 1.16 and a debt-to-equity ratio of 4.76. The stock’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.23.

Insiders Place Their Bets

In related news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total value of $168,664.98. Following the completion of the sale, the insider now owns 3,938,792 shares of the company’s stock, valued at approximately $9,965,143.76. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anthony Li Hsieh sold 267,972 shares of loanDepot stock in a transaction on Monday, August 19th. The shares were sold at an average price of $2.74, for a total transaction of $734,243.28. Following the completion of the sale, the director now directly owns 3,242,985 shares of the company’s stock, valued at approximately $8,885,778.90. The trade was a 7.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,549,436 shares of company stock worth $6,510,596. 83.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On loanDepot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LDI. Park Avenue Securities LLC purchased a new position in loanDepot during the 3rd quarter valued at about $27,000. Atria Investments Inc grew its holdings in shares of loanDepot by 41.0% during the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock worth $60,000 after purchasing an additional 6,372 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of loanDepot by 293.5% during the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock worth $153,000 after purchasing an additional 41,767 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of loanDepot during the third quarter worth about $164,000. Finally, Quadrature Capital Ltd grew its holdings in shares of loanDepot by 153.8% during the third quarter. Quadrature Capital Ltd now owns 84,531 shares of the company’s stock worth $230,000 after purchasing an additional 51,231 shares in the last quarter. 39.39% of the stock is currently owned by institutional investors.

About loanDepot

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loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. The company offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. It also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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