LendingClub Corp. (LC) Coverage Initiated by Analysts at Wedbush
A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group Inc. reissued a neutral rating and set a $5.00 target price (up previously from $4.70) on shares of LendingClub Corp. in a research note on Thursday, August 11th. Vetr raised shares of LendingClub Corp. from a buy rating to a strong-buy rating and set a $5.11 price target for the company in a research note on Monday, July 25th. Oppenheimer Holdings Inc. started coverage on shares of LendingClub Corp. in a research note on Thursday, August 4th. They issued a market perform rating for the company. BTIG Research reaffirmed a buy rating and issued a $9.00 price target on shares of LendingClub Corp. in a research note on Monday, July 18th. Finally, Morgan Stanley reaffirmed an equal weight rating on shares of LendingClub Corp. in a research note on Monday, September 12th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $12.51.
LendingClub Corp. (NYSE:LC) traded down 4.30% during mid-day trading on Monday, reaching $5.78. The company had a trading volume of 1,641,034 shares. LendingClub Corp. has a 12 month low of $3.44 and a 12 month high of $15.00. The stock’s market cap is $2.26 billion. The firm’s 50-day moving average price is $5.82 and its 200-day moving average price is $5.58.
LendingClub Corp. (NYSE:LC) last announced its earnings results on Monday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.07. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $110.65 million. During the same period in the prior year, the business earned $0.03 EPS. LendingClub Corp.’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that LendingClub Corp. will post ($0.14) EPS for the current fiscal year.
In other LendingClub Corp. news, COO Sameer Gulati sold 5,489 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $4.60, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sandeep Bhandari sold 9,771 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $5.55, for a total transaction of $54,229.05. Following the sale, the insider now directly owns 219,600 shares of the company’s stock, valued at approximately $1,218,780. The disclosure for this sale can be found here. Company insiders own 11.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock valued at $100,000 after buying an additional 6,205 shares during the last quarter. Psagot Investment House Ltd. boosted its stake in LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock valued at $103,000 after buying an additional 15,000 shares in the last quarter. Geduld E E bought a new stake in LendingClub Corp. during the second quarter valued at approximately $108,000. Ameritas Investment Partners Inc. bought a new stake in LendingClub Corp. during the second quarter valued at approximately $110,000. Finally, Principal Financial Group Inc. bought a new stake in LendingClub Corp. during the second quarter valued at approximately $111,000. 83.90% of the stock is owned by institutional investors and hedge funds.
LendingClub Corp. 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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