Zacks Investment Research upgraded shares of LendingClub Corporation (NYSE:LC) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $6.25 target price on the stock.
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. “
LC has been the topic of a number of other research reports. Wedbush reaffirmed an underperform rating and set a $4.00 price target (up previously from $3.75) on shares of LendingClub Corporation in a research report on Thursday, December 1st. Canaccord Genuity reaffirmed a hold rating and set a $7.00 price target on shares of LendingClub Corporation in a research report on Tuesday, November 8th. FBR & Co set a $7.00 price target on LendingClub Corporation and gave the stock a hold rating in a research report on Sunday, October 16th. Morgan Stanley raised LendingClub Corporation from an equal weight rating to an overweight rating and set a $7.00 price target on the stock in a research report on Thursday, November 3rd. Finally, Citigroup Inc. reaffirmed a neutral rating and set a $5.00 price target on shares of LendingClub Corporation in a research report on Monday, November 7th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $11.31.
LendingClub Corporation (NYSE:LC) traded down 1.22% during midday trading on Tuesday, reaching $5.68. The company had a trading volume of 2,752,318 shares. LendingClub Corporation has a 52-week low of $3.44 and a 52-week high of $9.80. The company’s market cap is $2.24 billion. The company’s 50-day moving average is $5.48 and its 200 day moving average is $5.33.
LendingClub Corporation (NYSE:LC) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $112.60 million for the quarter, compared to analyst estimates of $103.31 million. LendingClub Corporation had a negative return on equity of 6.68% and a negative net margin of 21.75%. LendingClub Corporation’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that LendingClub Corporation will post ($0.12) EPS for the current year.
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In other news, COO Sameer Gulati sold 5,610 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $5.49, for a total transaction of $30,798.90. Following the completion of the transaction, the chief operating officer now owns 941,181 shares of the company’s stock, valued at approximately $5,167,083.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Coleman sold 22,028 shares of the business’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $5.32, for a total value of $117,188.96. Following the transaction, the insider now directly owns 435,118 shares of the company’s stock, valued at approximately $2,314,827.76. The disclosure for this sale can be found here. Insiders own 11.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Seven Bridges Advisors LLC raised its stake in shares of LendingClub Corporation 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 in the last quarter. Tairen Capital Ltd purchased a new stake in shares of LendingClub Corporation during the second quarter worth $129,000. Artemis Investment Management LLP raised its stake in shares of LendingClub Corporation by 620.0% in the second quarter. Artemis Investment Management LLP now owns 108,000 shares of the company’s stock worth $463,000 after buying an additional 93,000 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of LendingClub Corporation during the second quarter worth $2,205,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of LendingClub Corporation during the second quarter worth $600,000. 83.58% of the stock is owned by institutional investors.
LendingClub Corporation Company Profile
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.
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