The Goldman Sachs Group Cuts loanDepot (NYSE:LDI) Price Target to $1.50

loanDepot (NYSE:LDI) had its price objective decreased by The Goldman Sachs Group from $2.25 to $1.50 in a research note published on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Separately, JMP Securities reiterated a market perform rating on shares of loanDepot in a research note on Friday, June 21st.

loanDepot Price Performance

LDI opened at $1.55 on Tuesday. The business has a fifty day moving average of $1.99 and a 200 day moving average of $2.47. The stock has a market cap of $501.56 million, a P/E ratio of -2.72 and a beta of 3.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 4.80. loanDepot has a 52-week low of $1.14 and a 52-week high of $3.71.

loanDepot (NYSE:LDI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The company had revenue of $222.79 million during the quarter, compared to the consensus estimate of $232.65 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. As a group, sell-side analysts anticipate that loanDepot will post -0.2 EPS for the current year.

Insider Activity

In other loanDepot news, CEO Frank Martell acquired 36,639 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $1.77 per share, for a total transaction of $64,851.03. Following the completion of the purchase, the chief executive officer now directly owns 595,248 shares of the company’s stock, valued at $1,053,588.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Anthony Li Hsieh sold 198,866 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $2.20, for a total transaction of $437,505.20. Following the sale, the director now directly owns 3,590,891 shares of the company’s stock, valued at approximately $7,899,960.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank Martell purchased 36,639 shares of the stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $1.77 per share, for a total transaction of $64,851.03. Following the transaction, the chief executive officer now directly owns 595,248 shares of the company’s stock, valued at approximately $1,053,588.96. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 677,520 shares of company stock valued at $1,358,805. Company insiders own 83.04% of the company’s stock.

Institutional Investors Weigh In On loanDepot

Several institutional investors have recently bought and sold shares of LDI. CastleKnight Management LP acquired a new stake in loanDepot in the 4th quarter valued at about $1,644,000. Wolverine Asset Management LLC grew 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 valued at $3,773,000 after purchasing an additional 397,095 shares in the last quarter. Cannell Capital LLC increased its holdings in shares of loanDepot by 19.5% in the third quarter. Cannell Capital LLC now owns 5,396,445 shares of the company’s stock valued at $9,282,000 after purchasing an additional 879,650 shares during the last quarter. Jump Financial LLC purchased a new position in loanDepot during the fourth quarter worth approximately $81,000. Finally, Cullen Capital Management LLC acquired a new position in loanDepot during the fourth quarter worth $150,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

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.