loanDepot (NYSE:LDI) Price Target Raised to $2.70

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

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

loanDepot Trading Down 3.9 %

Shares of loanDepot stock traded down $0.10 on Thursday, reaching $2.45. The company had a trading volume of 491,469 shares, compared to its average volume of 598,020. The firm has a market cap of $796.62 million, a price-to-earnings ratio of -4.91 and a beta of 3.46. 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’s 50-day moving average price is $2.43 and its two-hundred day moving average price is $2.23. loanDepot has a 1 year low of $1.52 and a 1 year high of $3.71.

Insider Buying and Selling

In related news, Director Anthony Li Hsieh sold 267,972 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $2.74, for a total transaction of $734,243.28. Following the transaction, the director now directly owns 3,242,985 shares of the company’s stock, valued at $8,885,778.90. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff Alexander Walsh sold 36,811 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $2.66, for a total value of $97,917.26. Following the completion of the transaction, the insider now directly owns 4,035,317 shares in the company, valued at $10,733,943.22. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,549,436 shares of company stock valued at $6,510,596. Insiders own 83.04% of the company’s stock.

Hedge Funds Weigh In On loanDepot

Hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC lifted its position in loanDepot by 66.3% during the first quarter. Cetera Advisors LLC now owns 113,354 shares of the company’s stock worth $294,000 after buying an additional 45,173 shares in the last quarter. American Century Companies Inc. grew its stake in shares of loanDepot by 27.3% in the second quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock valued at $151,000 after buying an additional 19,655 shares in the last quarter. Empowered Funds LLC grew its stake in shares of 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 in the last quarter. 272 Capital LP boosted its holdings in loanDepot by 107.4% in the second quarter. 272 Capital LP now owns 183,190 shares of the company’s stock valued at $302,000 after purchasing an additional 94,883 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in loanDepot by 390.6% in the second quarter. Dimensional Fund Advisors LP now owns 198,724 shares of the company’s stock valued at $328,000 after purchasing an additional 158,221 shares during the period. 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.