Zacks Investment Research upgraded shares of LendingClub Corporation (NYSE:LC) from a sell rating to a hold rating in a research report report published on Wednesday, October 18th.
According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “
A number of other research firms have also recently issued reports on LC. Vetr cut LendingClub Corporation from a strong-buy rating to a buy rating and set a $6.55 target price on the stock. in a research report on Wednesday, August 16th. BTIG Research reiterated a buy rating and issued a $9.00 target price on shares of LendingClub Corporation in a research report on Wednesday, September 27th. Stifel Nicolaus reiterated a hold rating and issued a $6.50 target price on shares of LendingClub Corporation in a research report on Thursday, August 10th. Canaccord Genuity reiterated a hold rating and issued a $7.00 target price on shares of LendingClub Corporation in a research report on Thursday, August 10th. Finally, Wedbush set a $6.00 price target on LendingClub Corporation and gave the stock a hold rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. LendingClub Corporation currently has a consensus rating of Hold and a consensus price target of $6.80.
Shares of LendingClub Corporation (NYSE LC) traded up $0.22 during trading on Wednesday, reaching $5.85. The company’s stock had a trading volume of 5,824,435 shares, compared to its average volume of 7,040,515. LendingClub Corporation has a fifty-two week low of $4.92 and a fifty-two week high of $6.78. The company has a debt-to-equity ratio of 3.87, a current ratio of 19.05 and a quick ratio of 18.90.
LendingClub Corporation (NYSE:LC) last posted its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The company had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s revenue was up 35.0% on a year-over-year basis. sell-side analysts forecast that LendingClub Corporation will post -0.14 EPS for the current fiscal year.
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In other news, CEO Scott Sanborn sold 46,667 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $5.77, for a total transaction of $269,268.59. Following the completion of the transaction, the chief executive officer now owns 970,337 shares in the company, valued at approximately $5,598,844.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel T. Ciporin purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $5.92 per share, with a total value of $59,200.00. Following the purchase, the director now directly owns 1,014,809 shares in the company, valued at approximately $6,007,669.28. The disclosure for this purchase can be found here. Insiders have sold 213,116 shares of company stock valued at $1,288,135 in the last quarter. 11.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in LendingClub Corporation by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock worth $156,505,000 after purchasing an additional 1,300,878 shares in the last quarter. BlackRock Inc. raised its holdings in shares of LendingClub Corporation by 3,276.7% during the 1st quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after buying an additional 21,445,128 shares in the last quarter. Fred Alger Management Inc. raised its holdings in shares of LendingClub Corporation by 5.8% during the 2nd quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock valued at $67,981,000 after buying an additional 681,192 shares in the last quarter. Jackson Square Partners LLC raised its holdings in shares of LendingClub Corporation by 23.3% during the 2nd quarter. Jackson Square Partners LLC now owns 9,610,092 shares of the credit services provider’s stock valued at $52,951,000 after buying an additional 1,817,453 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of LendingClub Corporation by 5.3% during the 2nd quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock valued at $35,602,000 after buying an additional 323,373 shares in the last quarter. Institutional investors own 87.80% of the company’s stock.
LendingClub Corporation Company Profile
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.
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