LendingClub Corp (LC) Given New $6.25 Price Target at Oppenheimer Holdings, Inc.

LendingClub Corp (NYSE:LC) had its price objective cut by Oppenheimer Holdings, Inc. from $7.50 to $6.25 in a report released on Wednesday, November 8th. They currently have an outperform rating on the credit services provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut LendingClub from a buy rating to a hold rating in a report on Tuesday, July 11th. BidaskClub cut LendingClub from a sell rating to a strong sell rating in a report on Saturday, October 21st. Vetr cut LendingClub from a buy rating to a hold rating and set a $6.55 price target for the company. in a report on Monday, September 4th. Needham & Company LLC initiated coverage on LendingClub in a report on Wednesday, November 1st. They issued a buy rating and a $7.00 price target for the company. Finally, Maxim Group initiated coverage on LendingClub in a report on Tuesday, November 7th. They issued a buy rating and a $8.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. LendingClub has an average rating of Hold and a consensus price target of $6.89.

LendingClub (NYSE LC) traded down $0.04 during midday trading on Wednesday, reaching $4.22. The company had a trading volume of 12,931,493 shares, compared to its average volume of 6,173,574. LendingClub has a 12 month low of $4.05 and a 12 month high of $6.78. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52.

In other news, insider Timothy Bogan sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas W. Casey purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $4.17 per share, with a total value of $41,700.00. The disclosure for this purchase can be found here. Insiders sold 104,793 shares of company stock valued at $555,863 over the last 90 days. Company insiders own 11.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in LendingClub by 4.8% in the second quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock worth $156,505,000 after acquiring an additional 1,300,878 shares during the period. BlackRock Inc. grew its position in LendingClub by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after acquiring an additional 21,445,128 shares during the period. Fred Alger Management Inc. grew its position in LendingClub by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock worth $67,981,000 after acquiring an additional 681,192 shares during the period. Jackson Square Partners LLC grew its position in LendingClub by 2.8% in the third quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock worth $60,191,000 after acquiring an additional 273,650 shares during the period. Finally, State Street Corp grew its position in LendingClub by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock worth $35,602,000 after acquiring an additional 323,373 shares during the period. Institutional investors own 87.91% of the company’s stock.

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About LendingClub

LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.

Analyst Recommendations for LendingClub (NYSE:LC)

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