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

loanDepot (NYSE:LDI) 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.

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

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.