LendingClub Corp. (LC) Given a $9.00 Price Target by BTIG Research Analysts
LendingClub Corp. (NYSE:LC) has been assigned a $9.00 price target by BTIG Research in a research report issued to clients and investors on Thursday. The brokerage presently has a a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 45.63% from the stock’s previous close.
Several other equities analysts have also commented on the company. Vetr lowered LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 price target on the stock. in a research report on Monday, September 12th. Morgan Stanley reissued an “equal weight” rating on shares of LendingClub Corp. in a research report on Monday, September 12th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $5.00 price objective on shares of LendingClub Corp. in a report on Monday, August 15th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $5.00 price objective (up from $4.70) on shares of LendingClub Corp. in a report on Thursday, August 11th. Finally, Zacks Investment Research downgraded LendingClub Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.03.
Shares of LendingClub Corp. (NYSE:LC) opened at 6.18 on Thursday. The firm’s market capitalization is $2.42 billion. The stock has a 50 day moving average price of $5.73 and a 200 day moving average price of $5.72. LendingClub Corp. has a 12-month low of $3.44 and a 12-month high of $15.00.
LendingClub Corp. (NYSE:LC) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.07. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $110.65 million. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. Equities analysts anticipate that LendingClub Corp. will post ($0.14) earnings per share for the current fiscal year.
In other news, insider Sandeep Bhandari sold 9,771 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $5.55, for a total value of $54,229.05. Following the completion of the sale, the insider now owns 219,600 shares in the company, valued at $1,218,780. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Sameer Gulati sold 5,489 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $4.60, for a total value of $25,249.40. Following the completion of the sale, the chief operating officer now owns 970,623 shares of the company’s stock, valued at approximately $4,464,865.80. The disclosure for this sale can be found here. Company insiders own 11.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in LC. River & Mercantile Asset Management LLP raised its stake in shares of LendingClub Corp. by 132.2% in the second quarter. River & Mercantile Asset Management LLP now owns 510,300 shares of the company’s stock valued at $2,191,000 after buying an additional 290,550 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of LendingClub Corp. by 1,384.5% in the second quarter. BNP Paribas Arbitrage SA now owns 144,557 shares of the company’s stock valued at $622,000 after buying an additional 134,819 shares during the period. First Republic Investment Management Inc. purchased a new stake in shares of LendingClub Corp. during the first quarter valued at $535,000. Bayesian Capital Management LP raised its stake in shares of LendingClub Corp. by 41.3% in the first quarter. Bayesian Capital Management LP now owns 22,907 shares of the company’s stock valued at $190,000 after buying an additional 6,700 shares during the period. Finally, Integre Asset Management LLC raised its stake in shares of LendingClub Corp. by 132.0% in the first quarter. Integre Asset Management LLC now owns 188,690 shares of the company’s stock valued at $1,566,000 after buying an additional 107,373 shares during the period. Institutional investors and hedge funds own 83.90% of the company’s stock.
About LendingClub Corp.
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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