Brokers Issue Forecasts for loanDepot, Inc.’s Q1 2023 Earnings (NYSE:LDI)

loanDepot, Inc. (NYSE:LDI – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their Q1 2023 EPS estimates for shares of loanDepot in a report issued on Wednesday, March 8th. Jefferies Financial Group analyst K. Joseph now forecasts that the company will post earnings per share of ($0.20) for the quarter, down from their prior forecast of ($0.09). The consensus estimate for loanDepot’s current full-year earnings is ($0.51) per share. Jefferies Financial Group also issued estimates for loanDepot’s Q2 2023 earnings at ($0.18) EPS, Q3 2023 earnings at ($0.15) EPS, Q4 2023 earnings at ($0.11) EPS, FY2023 earnings at ($0.64) EPS, Q1 2024 earnings at ($0.05) EPS and FY2024 earnings at $0.12 EPS.

A number of other equities research analysts have also recently issued reports on the stock. William Blair cut shares of loanDepot from an “outperform” rating to a “market perform” rating in a report on Thursday. Morgan Stanley dropped their target price on shares of loanDepot from $2.25 to $1.75 and set an “equal weight” rating on the stock in a report on Friday, December 16th. Bank of America reaffirmed a “market perform” rating on shares of loanDepot in a report on Thursday. Finally, Credit Suisse Group cut shares of loanDepot from an “outperform” rating to a “neutral” rating in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1.83.

loanDepot Stock Down 5.6 %

Shares of LDI stock opened at $1.70 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s 50-day moving average is $2.20 and its 200-day moving average is $1.77. The stock has a market cap of $534.53 million, a price-to-earnings ratio of -0.98 and a beta of 2.49. loanDepot has a 52-week low of $1.25 and a 52-week high of $4.47.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LDI. Knightsbridge Asset Management LLC increased its holdings in shares of loanDepot by 6,079.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 3,312,574 shares of the company’s stock worth $5,466,000 after purchasing an additional 3,258,972 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of loanDepot during the 2nd quarter worth approximately $3,070,000. Cannell Capital LLC acquired a new stake in shares of loanDepot during the 4th quarter worth approximately $1,693,000. Vanguard Group Inc. boosted its position in shares of loanDepot by 61.8% during the 1st quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock worth $10,047,000 after acquiring an additional 925,002 shares in the last quarter. Finally, EMG Holdings L.P. acquired a new stake in shares of loanDepot during the 2nd quarter worth approximately $707,000. 3.50% of the stock is owned by institutional investors.

Insider Buying and Selling at loanDepot

In other loanDepot news, insider Jeff Alexander Walsh sold 63,303 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $1.98, for a total value of $125,339.94. Following the transaction, the insider now directly owns 4,349,827 shares of the company’s stock, valued at approximately $8,612,657.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other loanDepot news, insider Jeff Alexander Walsh sold 63,303 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $1.98, for a total value of $125,339.94. Following the transaction, the insider now directly owns 4,349,827 shares of the company’s stock, valued at approximately $8,612,657.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nicole Carrillo sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $1.61, for a total transaction of $80,500.00. Following the transaction, the chief accounting officer now directly owns 186,141 shares in the company, valued at $299,687.01. The disclosure for this sale can be found here. Insiders have sold a total of 1,149,398 shares of company stock valued at $2,360,044 in the last three months. 88.65% of the stock is currently owned by company insiders.

About loanDepot

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loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company 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.