loanDepot (NYSE:LDI – Free 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
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
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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