loanDepot (NYSE:LDI) Price Target Cut to $2.50 by Analysts at Credit Suisse Group

loanDepot (NYSE:LDIGet Rating) had its price target cut by Credit Suisse Group from $3.25 to $2.50 in a research report sent to investors on Monday, MarketBeat reports. They currently have an outperform rating on the stock.

LDI has been the subject of several other reports. The Goldman Sachs Group cut their target price on shares of loanDepot from $1.70 to $1.50 and set a neutral rating for the company in a research report on Tuesday, October 4th. Barclays cut their target price on shares of loanDepot from $2.00 to $1.00 and set an equal weight rating for the company in a research report on Monday, October 17th. Finally, Citigroup lowered their price target on shares of loanDepot from $1.50 to $1.25 and set a sell rating on the stock in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $2.71.

loanDepot Stock Performance

Shares of NYSE LDI opened at $1.55 on Monday. The firm has a 50 day moving average of $1.47 and a 200 day moving average of $1.77. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $487.37 million, a price-to-earnings ratio of -1.26 and a beta of 2.29. loanDepot has a 12-month low of $1.25 and a 12-month high of $5.80.

Insider Transactions at loanDepot

In other news, insider Jeffrey Michael Dergurahian sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $1.69, for a total value of $169,000.00. Following the transaction, the insider now owns 6,142,969 shares of the company’s stock, valued at $10,381,617.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jeffrey Michael Dergurahian sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $1.69, for a total value of $169,000.00. Following the transaction, the insider now owns 6,142,969 shares of the company’s stock, valued at $10,381,617.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Anthony Li Hsieh bought 176,862 shares of the stock in a transaction dated Monday, August 29th. The stock was bought at an average cost of $1.59 per share, for a total transaction of $281,210.58. Following the acquisition, the chairman now directly owns 3,554,808 shares of the company’s stock, valued at approximately $5,652,144.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 359,566 shares of company stock valued at $572,203 and have sold 2,235,897 shares valued at $3,376,581. Insiders own 88.65% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several large investors have recently bought and sold shares of the business. Balyasny Asset Management LLC bought a new stake in loanDepot in the third quarter worth $244,000. State Street Corp increased its position in loanDepot by 88.5% in the third quarter. State Street Corp now owns 119,263 shares of the company’s stock worth $157,000 after purchasing an additional 56,000 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in loanDepot in the third quarter worth $32,000. Vanguard Group Inc. increased its position in loanDepot by 12.8% in the third quarter. Vanguard Group Inc. now owns 3,187,085 shares of the company’s stock worth $4,207,000 after purchasing an additional 361,781 shares during the last quarter. Finally, Quinn Opportunity Partners LLC increased its position in loanDepot by 450.0% in the third quarter. Quinn Opportunity Partners LLC now owns 110,000 shares of the company’s stock worth $145,000 after purchasing an additional 90,000 shares during the last quarter. Institutional investors own 4.12% of the company’s stock.

About loanDepot

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loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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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Analyst Recommendations for loanDepot (NYSE:LDI)

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