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

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

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

loanDepot Trading Up 3.2 %

Shares of loanDepot stock opened at $1.61 on Tuesday. The firm has a market cap of $520.98 million, a price-to-earnings ratio of -2.82 and a beta of 3.39. The business has a 50-day moving average price of $1.96 and a 200-day moving average price of $2.45. 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 twelve month low of $1.14 and a twelve month high of $3.71.

loanDepot (NYSE:LDI) last announced its quarterly 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). loanDepot had a negative net margin of 10.26% and a negative return on equity of 19.52%. The business had revenue of $222.79 million during the quarter, compared to the consensus estimate of $232.65 million. Equities research analysts anticipate that loanDepot will post -0.2 EPS for the current fiscal year.

Insider Activity at loanDepot

In other loanDepot news, Director Anthony Li Hsieh sold 198,866 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $2.20, for a total value of $437,505.20. Following the completion of the sale, the director now owns 3,590,891 shares of the company’s stock, valued at $7,899,960.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other loanDepot news, Director Anthony Li Hsieh sold 198,866 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $2.20, for a total value of $437,505.20. Following the completion of the sale, the director now owns 3,590,891 shares of the company’s stock, valued at $7,899,960.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank Martell acquired 25,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $2.09 per share, with a total value of $52,250.00. Following the purchase, the chief executive officer now owns 386,846 shares of the company’s stock, valued at $808,508.14. The disclosure for this purchase can be found here. In the last quarter, insiders sold 677,520 shares of company stock valued at $1,358,805. Insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Several institutional investors have recently added to or reduced their stakes in the company. Cannell Capital LLC raised its stake in shares of 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 in the last quarter. Wolverine Asset Management LLC raised its stake in shares of loanDepot by 58.8% during the fourth quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock valued at $3,773,000 after acquiring an additional 397,095 shares in the last quarter. CastleKnight Management LP bought a new stake in shares of loanDepot during the fourth quarter valued at approximately $1,644,000. G2 Investment Partners Management LLC bought a new stake in shares of loanDepot during the fourth quarter valued at approximately $792,000. Finally, DC Investments Management LLC bought a new stake in shares of loanDepot during the first quarter valued at approximately $559,000. 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.