loanDepot (NYSE:LDI) Price Target Raised to $1.70

loanDepot (NYSE:LDI) had its price target hoisted by The Goldman Sachs Group from $1.50 to $1.70 in a research report released on Thursday, Benzinga reports. They currently have a sell rating on the stock.

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

loanDepot Price Performance

Shares of NYSE LDI traded up $0.10 during midday trading on Thursday, hitting $2.40. The stock had a trading volume of 376,456 shares, compared to its average volume of 459,711. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 4.80. The stock has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.25. The company has a market capitalization of $776.62 million, a PE ratio of -4.21 and a beta of 3.40. loanDepot has a 1 year low of $1.14 and a 1 year high of $3.71.

loanDepot (NYSE:LDI) last announced 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 net margin of 10.26% and a negative return on equity of 19.52%. The firm had revenue of $222.79 million during the quarter, compared to analysts’ expectations of $232.65 million. On average, sell-side analysts expect that loanDepot will post -0.22 EPS for the current fiscal year.

Insider Transactions at loanDepot

In related news, CEO Frank Martell purchased 36,639 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $1.77 per share, with a total value of $64,851.03. Following the completion of the acquisition, the chief executive officer now owns 595,248 shares in the company, valued at $1,053,588.96. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Frank Martell acquired 36,639 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $1.77 per share, with a total value of $64,851.03. Following the completion of the acquisition, the chief executive officer now owns 595,248 shares of the company’s stock, valued at approximately $1,053,588.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony Li Hsieh sold 38,504 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.03, for a total transaction of $78,163.12. Following the sale, the director now owns 3,255,623 shares of the company’s stock, valued at $6,608,914.69. The disclosure for this sale can be found here. Insiders have sold a total of 677,520 shares of company stock worth $1,358,805 in the last ninety days. Insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Several institutional investors have recently made changes to their positions in LDI. CastleKnight Management LP purchased a new position in loanDepot in the fourth quarter worth approximately $1,644,000. Wolverine Asset Management LLC increased its position 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 last quarter. Jump Financial LLC acquired a new stake in shares of loanDepot during the 4th quarter worth about $81,000. Cullen Capital Management LLC purchased a new stake in loanDepot in the 4th quarter valued at about $150,000. Finally, Empowered Funds LLC lifted its position in loanDepot by 8.2% in the first quarter. Empowered Funds LLC now owns 205,910 shares of the company’s stock valued at $533,000 after buying an additional 15,565 shares during the last quarter. Hedge funds and other 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.