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

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

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

loanDepot Stock Down 5.1 %

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

Insider Buying and Selling at loanDepot

In related news, Director Anthony Li Hsieh sold 10,141 shares of loanDepot stock in a transaction on Friday, September 13th. The shares were sold at an average price of $2.57, for a total value of $26,062.37. Following the transaction, the director now directly owns 1,865,727 shares of the company’s stock, valued at $4,794,918.39. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total transaction of $97,917.26. Following the sale, the insider now directly owns 4,035,317 shares of the company’s stock, valued at $10,733,943.22. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,281,464 shares of company stock worth $5,776,353. 83.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LDI. Barclays PLC purchased a new position in shares of loanDepot during the third quarter valued at approximately $2,180,000. Walleye Capital LLC bought a new stake in loanDepot in the third quarter valued at $897,000. DC Investments Management LLC purchased a new position in loanDepot during the 1st quarter valued at $559,000. Dimensional Fund Advisors LP raised its holdings in loanDepot by 390.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock worth $328,000 after purchasing an additional 158,221 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of loanDepot by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 720,747 shares of the company’s stock worth $1,968,000 after purchasing an additional 125,059 shares during the period. 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.