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

loanDepot (NYSE:LDI) had its price objective cut by investment analysts at The Goldman Sachs Group from $2.25 to $1.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 6.83% from the stock’s previous close.

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

loanDepot Price Performance

Shares of LDI opened at $1.61 on Tuesday. loanDepot has a 1-year low of $1.14 and a 1-year high of $3.71. The stock has a market cap of $520.98 million, a PE ratio of -2.82 and a beta of 3.40. The firm has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $2.46. The company has a debt-to-equity ratio of 4.80, a current ratio of 1.24 and a quick ratio of 1.24.

loanDepot (NYSE:LDI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $222.79 million for the quarter, compared to analysts’ expectations of $232.65 million. As a group, analysts forecast that loanDepot will post -0.2 EPS for the current year.

Insider Activity at loanDepot

In related news, Director Anthony Li Hsieh sold 198,866 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $2.20, for a total value of $437,505.20. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other loanDepot news, CEO Frank Martell purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $2.09 per share, for a total transaction of $52,250.00. Following the purchase, the chief executive officer now directly owns 386,846 shares in the company, valued at $808,508.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony Li Hsieh sold 198,866 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $2.20, for a total transaction 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 approximately $7,899,960.20. The disclosure for this sale can be found here. Insiders have sold 677,520 shares of company stock valued at $1,358,805 in the last ninety days. Insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Hedge funds have recently made changes to their positions in the company. Jump Financial LLC purchased a new position in shares of loanDepot in the 4th quarter valued at about $81,000. Counterpoint Mutual Funds LLC purchased a new position in shares of loanDepot in the 4th quarter valued at about $106,000. Cullen Capital Management LLC purchased a new position in shares of loanDepot in the 4th quarter valued at about $150,000. Cetera Advisors LLC increased its holdings in shares of loanDepot by 66.3% in the 1st quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after purchasing an additional 45,173 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of loanDepot by 8.2% in the 1st quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after purchasing an additional 15,565 shares in the last quarter. Institutional investors and hedge funds 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.