LendingClub Corp. (LC) Upgraded by Zacks Investment Research to Hold
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 brokerages also recently issued reports on LC. BTIG Research set a $9.00 price target on LendingClub Corp. and gave the company a buy rating in a report on Thursday, September 29th. Wedbush initiated coverage on LendingClub Corp. in a research report on Monday. They set an underperform rating and a $3.75 price objective for the company. Keefe, Bruyette & Woods reiterated a market perform rating and set a $5.00 price objective on shares of LendingClub Corp. in a research report on Monday, August 15th. Vetr cut LendingClub Corp. from a hold rating to a sell rating and set a $5.36 price objective for the company. in a research report on Monday, September 12th. Finally, Morgan Stanley reiterated an equal weight rating on shares of LendingClub Corp. in a research report on Monday, September 12th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $12.51.
LendingClub Corp. (NYSE:LC) opened at 5.54 on Wednesday. The stock has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.58. LendingClub Corp. has a 1-year low of $3.44 and a 1-year high of $15.00. The firm’s market cap is $2.17 billion.
LendingClub Corp. (NYSE:LC) last released its earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 company earned $102.40 million during the quarter, compared to the consensus estimate of $110.65 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. On average, analysts anticipate that LendingClub Corp. will post ($0.14) EPS for the current year.
In related news, COO Sameer Gulati sold 5,489 shares of LendingClub Corp. stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $4.60, for a total value of $25,249.40. Following the completion of the transaction, the chief operating officer now owns 970,623 shares in the company, valued at approximately $4,464,865.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sandeep Bhandari sold 9,771 shares of LendingClub Corp. stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $5.55, for a total value of $54,229.05. Following the completion of the transaction, the insider now owns 219,600 shares of the company’s stock, valued at approximately $1,218,780. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. SHANDA ASSET MANAGEMENT HOLDINGS Ltd raised its position in shares of LendingClub Corp. by 1,383.7% in the second quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 57,739,270 shares of the company’s stock valued at $248,279,000 after buying an additional 53,847,715 shares in the last quarter. Vanguard Group Inc. raised its position in shares of LendingClub Corp. by 12.7% in the second quarter. Vanguard Group Inc. now owns 21,815,353 shares of the company’s stock valued at $93,806,000 after buying an additional 2,450,950 shares in the last quarter. Jackson Square Partners LLC raised its position in shares of LendingClub Corp. by 9.8% in the second quarter. Jackson Square Partners LLC now owns 10,109,634 shares of the company’s stock valued at $43,471,000 after buying an additional 905,734 shares in the last quarter. Credit Suisse AG raised its position in shares of LendingClub Corp. by 10.6% in the second quarter. Credit Suisse AG now owns 9,556,353 shares of the company’s stock valued at $41,092,000 after buying an additional 916,270 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of LendingClub Corp. by 727.6% in the second quarter. BlackRock Fund Advisors now owns 8,206,163 shares of the company’s stock valued at $35,287,000 after buying an additional 7,214,645 shares in the last quarter. Hedge funds and other institutional investors 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.
Receive News & Stock Ratings for LendingClub Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corp. and related stocks with our FREE daily email newsletter.