LendingClub Corp. (NYSE:LC)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity in a research note issued on Tuesday. They currently have a $7.00 price objective on the stock, down from their prior price objective of $8.00. Canaccord Genuity’s target price indicates a potential upside of 50.86% from the stock’s previous close.
In related news, COO Sameer Gulati sold 8,072 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $4.29, for a total value of $34,628.88. Following the transaction, the chief operating officer now directly owns 975,561 shares in the company, valued at $4,185,156.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tian Qiao Chen acquired 24,299,900 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The stock was acquired at an average price of $4.01 per share, for a total transaction of $97,442,599.00. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in LC. Bayesian Capital Management LP boosted its position in LendingClub Corp. by 41.3% in the first quarter. Bayesian Capital Management LP now owns 22,907 shares of the company’s stock worth $190,000 after buying an additional 6,700 shares in the last quarter. Pacad Investment Ltd. purchased a new position in LendingClub Corp. during the first quarter worth approximately $227,000. Tairen Capital Ltd purchased a new position in LendingClub Corp. during the second quarter worth approximately $129,000. Seven Bridges Advisors LLC boosted its position in LendingClub Corp. by 53.9% in the second quarter. Seven Bridges Advisors LLC now owns 32,776 shares of the company’s stock worth $141,000 after buying an additional 11,478 shares during the period. Finally, Aperio Group LLC boosted its position in LendingClub Corp. by 42.2% in the first quarter. Aperio Group LLC now owns 52,066 shares of the company’s stock worth $432,000 after buying an additional 15,461 shares during the period.
LendingClub Corp. (NYSE:LC) traded up 6.91% during trading on Tuesday, hitting $4.64. The company’s stock had a trading volume of 6,715,565 shares. The firm has a market cap of $1.77 billion and a P/E ratio of 309.33. LendingClub Corp. has a 12 month low of $3.44 and a 12 month high of $15.00. The firm has a 50 day moving average of $4.51 and a 200 day moving average of $6.61.
LendingClub Corp. (NYSE:LC) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. During the same quarter last year, the firm posted $0.02 earnings per share. The firm had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $148.20 million. LendingClub Corp.’s quarterly revenue was up 86.8% on a year-over-year basis. Equities research analysts predict that LendingClub Corp. will post $0.08 earnings per share for the current year.
LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.
