LendingClub Corp. (LC) Rating Reiterated by FBR & Co
LendingClub Corp. (NYSE:LC)‘s stock had its “hold” rating reissued by investment analysts at FBR & Co in a report issued on Tuesday. They presently have a $6.50 price target on the stock. FBR & Co’s price objective indicates a potential upside of 15.86% from the stock’s current price.
Other analysts have also recently issued reports about the stock. BTIG Research set a $9.00 price target on shares of LendingClub Corp. and gave the company a “buy” rating in a report on Tuesday, August 9th. Vetr cut shares of LendingClub Corp. from a “strong-buy” rating to a “buy” rating and set a $5.11 target price on the stock. in a report on Monday, July 18th. Craig Hallum raised shares of LendingClub Corp. from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a report on Friday, October 28th. Morgan Stanley reissued an “equal weight” rating on shares of LendingClub Corp. in a report on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of LendingClub Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 15th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.79.
LendingClub Corp. (NYSE:LC) opened at 5.61 on Tuesday. The stock has a 50 day moving average price of $5.52 and a 200-day moving average price of $5.18. LendingClub Corp. has a 12-month low of $3.44 and a 12-month high of $14.40. The company’s market cap is $2.19 billion.
LendingClub Corp. (NYSE:LC) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $112.60 million for the quarter, compared to analysts’ expectations of $103.31 million. LendingClub Corp. had a negative net margin of 21.75% and a negative return on equity of 6.60%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. On average, analysts predict that LendingClub Corp. will post ($0.13) EPS for the current fiscal year.
In related news, COO Sameer Gulati sold 5,854 shares of LendingClub Corp. stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $4.95, for a total value of $28,977.30. Following the completion of the sale, the chief operating officer now directly owns 952,838 shares in the company, valued at $4,716,548.10. The sale was disclosed in a filing 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 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 of the company’s stock, valued at $1,218,780. The disclosure for this sale can be found here. 11.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in LC. SHANDA ASSET MANAGEMENT HOLDINGS Ltd raised its stake 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 worth $248,279,000 after buying an additional 53,847,715 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $93,806,000 after buying an additional 2,450,950 shares during the last quarter. Jackson Square Partners LLC raised its stake 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 worth $43,471,000 after buying an additional 905,734 shares during the last quarter. Credit Suisse AG raised its stake 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 worth $41,092,000 after buying an additional 916,270 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of LendingClub Corp. by 9.2% in the third quarter. BlackRock Fund Advisors now owns 8,958,584 shares of the company’s stock worth $55,364,000 after buying an additional 752,421 shares during the last quarter. Hedge funds and other institutional investors own 80.90% 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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