loanDepot (NYSE:LDI) Price Target Raised to $2.70 at The Goldman Sachs Group

loanDepot (NYSE:LDI) had its price objective hoisted by The Goldman Sachs Group from $1.70 to $2.70 in a report released on Thursday,Benzinga reports. The firm currently has a sell rating on the stock.

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

loanDepot Trading Down 5.1 %

Shares of NYSE LDI opened at $2.42 on Thursday. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.71. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.18. The firm has a 50-day moving average of $2.43 and a 200 day moving average of $2.23. The stock has a market cap of $786.86 million, a P/E ratio of -4.65 and a beta of 3.46.

Insider Transactions at loanDepot

In related news, insider Jeff Alexander Walsh sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $2.53, for a total value of $168,664.98. Following the transaction, the insider now directly owns 3,938,792 shares of the company’s stock, valued at approximately $9,965,143.76. This represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anthony Li Hsieh sold 152,794 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $2.87, for a total value of $438,518.78. Following the sale, the director now owns 2,237,666 shares in the company, valued at approximately $6,422,101.42. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,281,464 shares of company stock valued at $5,776,353 in the last quarter. 83.04% of the stock is owned by insiders.

Hedge Funds Weigh In On loanDepot

A number of hedge funds have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in loanDepot by 8.2% during the first 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 period. DC Investments Management LLC purchased a new position in shares of loanDepot in the 1st quarter worth $559,000. Cetera Advisors LLC increased its position in loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock valued at $294,000 after acquiring an additional 45,173 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in loanDepot by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 1,019,910 shares of the company’s stock valued at $1,683,000 after acquiring an additional 57,546 shares during the period. Finally, American Century Companies Inc. boosted its position in loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after purchasing an additional 19,655 shares during the last quarter. Hedge funds and other 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.