UBS Group Cuts loanDepot (NYSE:LDI) Price Target to $1.35

loanDepot (NYSE:LDIFree Report) had its price target reduced by UBS Group from $2.00 to $1.35 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, The Goldman Sachs Group raised their price objective on loanDepot from $1.70 to $2.70 and gave the company a “sell” rating in a report on Thursday, November 14th.

Read Our Latest Stock Analysis on loanDepot

loanDepot Price Performance

Shares of loanDepot stock opened at $1.39 on Friday. The company has a debt-to-equity ratio of 4.76, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50 day simple moving average of $1.67 and a two-hundred day simple moving average of $2.10. The stock has a market capitalization of $452.90 million, a P/E ratio of -2.66, a PEG ratio of 0.25 and a beta of 3.36. loanDepot has a 12 month low of $1.27 and a 12 month high of $3.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LDI. Cannell & Spears LLC boosted its stake in loanDepot by 301.3% during the fourth quarter. Cannell & Spears LLC now owns 1,294,200 shares of the company’s stock worth $2,640,000 after buying an additional 971,700 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of loanDepot during the 4th quarter worth $1,691,000. Barclays PLC acquired a new position in shares of loanDepot during the 3rd quarter valued at about $2,180,000. Millennium Management LLC increased its position in loanDepot by 167.1% during the fourth quarter. Millennium Management LLC now owns 650,987 shares of the company’s stock worth $1,328,000 after purchasing an additional 407,299 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in loanDepot during the third quarter worth about $897,000. 39.39% of the stock is currently owned by institutional investors and hedge funds.

About loanDepot

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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.

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