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

loanDepot (NYSE:LDI) had its price target boosted by equities researchers at The Goldman Sachs Group from $1.70 to $2.70 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.57% from the company’s current price.

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

loanDepot Stock Performance

Shares of LDI stock opened at $2.42 on Thursday. The business has a fifty day moving average of $2.43 and a 200 day moving average of $2.23. 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 market capitalization of $786.86 million, a price-to-earnings ratio of -4.65 and a beta of 3.46.

Insider Activity at loanDepot

In other news, insider Jeff Alexander Walsh sold 66,666 shares of loanDepot stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $2.53, for a total transaction of $168,664.98. Following the completion of the transaction, the insider now directly owns 3,938,792 shares of the company’s stock, valued at $9,965,143.76. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony Li Hsieh sold 639,186 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $2.97, for a total transaction of $1,898,382.42. Following the sale, the director now directly owns 2,390,460 shares in the company, valued at $7,099,666.20. This trade represents a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,549,436 shares of company stock worth $6,510,596 over the last three months. Company insiders own 83.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LDI. Park Avenue Securities LLC acquired a new stake in shares of loanDepot during the 3rd quarter valued at about $27,000. Jane Street Group LLC acquired a new stake in loanDepot in the third quarter valued at approximately $54,000. Atria Investments Inc increased its position in shares of loanDepot by 41.0% in the third quarter. Atria Investments Inc now owns 21,916 shares of the company’s stock valued at $60,000 after buying an additional 6,372 shares in the last quarter. American Century Companies Inc. raised its stake in shares of loanDepot by 27.3% during the 2nd quarter. American Century Companies Inc. now owns 91,701 shares of the company’s stock worth $151,000 after buying an additional 19,655 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of loanDepot by 293.5% during the 3rd quarter. Verition Fund Management LLC now owns 56,000 shares of the company’s stock valued at $153,000 after buying an additional 41,767 shares in 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.