loanDepot (NYSE:LDI) demoted by Piper Sandler

loanDeposit (NYSE:LDI – Get a rating) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a note released Wednesday to investors, Fly reports.

Several other equity research analysts also commented on the LDI. Raymond James downgraded loanDepot shares from an “outperforming” rating to a “market performing” rating in a Wednesday, February 2 research report. JMP Securities downgraded loanDepot shares from an “outperforming” rating to a “market performing” rating in a research report Wednesday. Goldman Sachs Group lowered its price target on LoanDepot shares from $4.80 to $3.90 and set a “neutral” rating on the stock in a Monday, April 4 research report. Citigroup downgraded loanDepot shares from a “neutral” rating to a “sell” rating in a research note on Wednesday. To finish, Zacks Investment Research downgraded loanDepot shares from a “hold” to a “sell” rating in a Wednesday, Feb. 2 research note. Three research analysts gave the stock a sell rating, six gave the stock a hold rating and two gave the stock a buy rating. Based on data from, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.34.

NYSE LDI shares opened at $2.38 on Wednesday. The company has a market capitalization of $740.01 million, a P/E ratio of 2.70 and a beta of 1.21. loanDepot has a one-year minimum of $2.00 and a one-year maximum of $16.95. The company’s fifty-day moving average is $3.64 and its two-hundred-day moving average is $4.60. The company has a debt ratio of 1.22, a quick ratio of 1.11 and a current ratio of 1.11.

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loanDeposit (NYSE:LDI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.04 per ($0.30). loanDepot had a return on equity of 33.38% and a net margin of 3.05%. In the same quarter a year earlier, the company earned $0.98 per share. On average, sell-side analysts expect loanDepot to post 0.5 earnings per share for the current fiscal year.

In other news, Executive Vice President Jeff Alexander Walsh sold 75,000 shares of the company in a trade dated Thursday, May 5. The shares were sold at an average price of $2.82, for a total transaction of $211,500.00. Following the completion of the transaction, the executive vice president now owns 6,772,543 shares of the company, valued at approximately $19,098,571.26. The transaction was disclosed in an SEC filing, available at this hyperlink. In the past ninety days, insiders have sold 225,000 shares of the company valued at $796,500.

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in loanDepot during Q3 worth approximately $85,000. BlackRock Inc. increased its position in loanDepot by 5.0% during the third quarter. BlackRock Inc. now owns 63,955 shares of the company worth $433,000 after buying 3,036 additional shares in the last quarter. Barclays PLC acquired a new stake in loanDepot during Q3 worth approximately $86,000. CIBC Asset Management Inc. acquired a new stake in loanDepot during Q3 worth approximately $87,000. Finally, Goldman Sachs Group Inc. increased its position in loanDepot by 18.1% during the 3rd quarter. Goldman Sachs Group Inc. now owns 14,981 shares of the company worth $101,000 after buying 2,296 additional shares last quarter. 4.12% of the stock is held by institutional investors.

About LoanDeposit (Get a rating)

loanDepot, Inc originates, funds, sells and services residential mortgages in the United States. It offers conventional agency-compliant and prime jumbo loans, federal assistance residential mortgages, and home equity loans. The Company also provides settlement services, which include captive securities and escrow activities; real estate services, which cover captive real estate referencing activities; and insurance services, including landlord services, and other consumer insurance policies.

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