loanDepot (NYSE:LDI) Price Target Cut to $1.50

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

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

loanDepot Stock Performance

LDI stock opened at $1.61 on Tuesday. loanDepot has a 12-month low of $1.14 and a 12-month high of $3.71. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 4.80. The stock’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $2.46. The firm has a market cap of $520.98 million, a P/E ratio of -2.82 and a beta of 3.40.

loanDepot (NYSE:LDI) last issued 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). The company had revenue of $222.79 million during the quarter, compared to analyst estimates of $232.65 million. loanDepot had a negative return on equity of 19.52% and a negative net margin of 10.26%. As a group, equities research analysts predict that loanDepot will post -0.2 EPS for the current year.

Insider Transactions at loanDepot

In related news, CEO Frank Martell acquired 36,639 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $1.77 per share, with a total value of $64,851.03. Following the purchase, the chief executive officer now owns 595,248 shares of the company’s stock, valued at $1,053,588.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other loanDepot news, Director Anthony Li Hsieh sold 198,866 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $2.20, for a total value of $437,505.20. Following the sale, the director now 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 accessible through this link. Also, CEO Frank Martell bought 36,639 shares of the stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost 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 in the company, valued at $1,053,588.96. The disclosure for this purchase can be found here. Insiders sold 677,520 shares of company stock valued at $1,358,805 in the last three months. Corporate insiders own 83.04% of the company’s stock.

Institutional Trading of loanDepot

Institutional investors have recently modified their holdings of the company. Jump Financial LLC acquired a new stake in loanDepot in the 4th quarter valued at $81,000. Counterpoint Mutual Funds LLC bought a new position in loanDepot in the 4th quarter valued at $106,000. Cullen Capital Management LLC bought a new position in loanDepot in the 4th quarter valued at $150,000. Cetera Advisors LLC raised its position in 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 during the last quarter. Finally, Empowered Funds LLC raised its position in 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 during the last quarter. Institutional investors and hedge funds 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.