loanDepot (NYSE:LDI) PT Lowered to $1.50

loanDepot (NYSE:LDI) had its target price reduced by stock analysts at The Goldman Sachs Group from $2.25 to $1.50 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 6.54% from the stock’s previous close.

Separately, JMP Securities reissued a “market perform” rating on shares of loanDepot in a report on Friday, June 21st.

loanDepot Price Performance

LDI stock traded down $0.01 during midday trading on Tuesday, hitting $1.61. 4,421 shares of the stock were exchanged, compared to its average volume of 447,721. The stock’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.47. The stock has a market cap of $519.36 million, a price-to-earnings ratio of -2.93 and a beta of 3.40. loanDepot has a fifty-two week low of $1.14 and a fifty-two week high of $3.71. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.24 and a current ratio of 1.24.

loanDepot (NYSE:LDI) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. The company had revenue of $222.79 million during the quarter, compared to analyst estimates of $232.65 million. Research analysts predict that loanDepot will post -0.2 earnings per share for the current year.

Insider Activity

In other loanDepot news, CEO Frank Martell acquired 25,000 shares of the stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $2.09 per share, with a total value of $52,250.00. Following the completion of the transaction, the chief executive officer now directly owns 386,846 shares in the company, valued at $808,508.14. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other loanDepot news, Director Anthony Li Hsieh sold 58,063 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $1.84, for a total transaction of $106,835.92. Following the completion of the sale, the director now owns 2,279,646 shares of the company’s stock, valued at $4,194,548.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank Martell purchased 25,000 shares of the stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $2.09 per share, with a total value of $52,250.00. Following the transaction, the chief executive officer now owns 386,846 shares of the company’s stock, valued at approximately $808,508.14. The disclosure for this purchase can be found here. Insiders sold a total of 677,520 shares of company stock valued at $1,358,805 over the last quarter. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

A number of institutional investors have recently added to or reduced their stakes in the company. Cannell Capital LLC grew its position in loanDepot by 19.5% during the third quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock valued at $9,282,000 after acquiring an additional 879,650 shares during the period. Wolverine Asset Management LLC boosted its position in shares of loanDepot by 58.8% in the fourth quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock worth $3,773,000 after buying an additional 397,095 shares during the period. CastleKnight Management LP acquired a new position in shares of loanDepot in the fourth quarter worth about $1,644,000. G2 Investment Partners Management LLC acquired a new position in shares of loanDepot in the fourth quarter worth about $792,000. Finally, DC Investments Management LLC acquired a new position in shares of loanDepot in the first quarter worth about $559,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.

About loanDepot

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.