The Goldman Sachs Group Increases loanDepot (NYSE:LDI) Price Target to $1.70

loanDepot (NYSE:LDI) had its price objective raised by The Goldman Sachs Group from $1.50 to $1.70 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 29.17% from the stock’s previous close.

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

loanDepot Stock Performance

LDI traded up $0.10 on Thursday, hitting $2.40. The company had a trading volume of 376,561 shares, compared to its average volume of 459,711. loanDepot has a 1-year low of $1.14 and a 1-year high of $3.71. The company has a debt-to-equity ratio of 4.80, a current ratio of 1.24 and a quick ratio of 1.24. The company’s fifty day moving average price is $1.90 and its 200 day moving average price is $2.25. The stock has a market cap of $776.62 million, a price-to-earnings ratio of -4.21 and a beta of 3.40.

loanDepot (NYSE:LDI) last issued its quarterly earnings data 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 firm had revenue of $222.79 million during the quarter, compared to analyst estimates of $232.65 million. Equities analysts predict that loanDepot will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Frank Martell bought 36,639 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 595,248 shares of the company’s stock, valued at approximately $1,053,588.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Frank Martell acquired 36,639 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $1.77 per share, for a total transaction of $64,851.03. Following the acquisition, the chief executive officer now owns 595,248 shares in the company, valued at approximately $1,053,588.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anthony Li Hsieh sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $1.81, for a total transaction of $90,500.00. Following the transaction, the director now owns 2,956,605 shares in the company, valued at approximately $5,351,455.05. The disclosure for this sale can be found here. Insiders have sold 677,520 shares of company stock worth $1,358,805 in the last quarter. 83.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its holdings in shares of loanDepot by 58.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,071,927 shares of the company’s stock worth $3,773,000 after purchasing an additional 397,095 shares during the period. CastleKnight Management LP acquired a new stake in shares of loanDepot during the 4th quarter valued at about $1,644,000. G2 Investment Partners Management LLC acquired a new stake in shares of loanDepot during the 4th quarter valued at about $792,000. DC Investments Management LLC acquired a new stake in shares of loanDepot during the 1st quarter valued at about $559,000. Finally, Empowered Funds LLC boosted its position in shares of loanDepot by 8.2% during the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after acquiring an additional 15,565 shares in the last quarter. 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.