loanDepot (NYSE:LDI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

loanDepot (NYSE:LDI) had its price objective boosted by equities researchers at The Goldman Sachs Group from $1.70 to $2.70 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 11.57% from the stock’s current price.

Separately, UBS Group lifted their target price on loanDepot from $2.30 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, September 5th.

loanDepot Stock Performance

loanDepot stock opened at $2.42 on Thursday. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.18 and a current ratio of 1.16. The company has a market capitalization of $786.86 million, a PE ratio of -4.65 and a beta of 3.46. The company has a 50 day moving average price of $2.43 and a 200-day moving average price of $2.23. loanDepot has a fifty-two week low of $1.52 and a fifty-two week high of $3.71.

Insider Activity

In other news, insider Jeff Alexander Walsh sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $2.85, for a total value of $142,500.00. Following the completion of the transaction, the insider now directly owns 4,122,128 shares of the company’s stock, valued at approximately $11,748,064.80. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony Li Hsieh sold 267,972 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $2.74, for a total value of $734,243.28. Following the sale, the director now owns 3,242,985 shares of the company’s stock, valued at $8,885,778.90. This trade represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,549,436 shares of company stock worth $6,510,596. 83.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LDI. Park Avenue Securities LLC acquired a new position in shares of loanDepot during the third quarter worth $27,000. Jane Street Group LLC acquired a new position in loanDepot during the 3rd quarter valued at about $54,000. Atria Investments Inc increased its position in loanDepot by 41.0% during the 3rd quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after buying an additional 6,372 shares in the last quarter. Verition Fund Management LLC raised its stake in loanDepot by 293.5% in the third quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in loanDepot in the third quarter worth about $164,000. Institutional investors own 39.39% of the company’s stock.

loanDepot Company Profile

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.