LendingClub Corp. (NYSE:LC) – Stock analysts at Wedbush reduced their FY2016 earnings estimates for shares of LendingClub Corp. in a research note issued on Tuesday. Wedbush analyst H. Coffey now expects that the brokerage will earn ($0.31) per share for the year, down from their prior estimate of ($0.29). Wedbush has a “Underperform” rating and a $3.75 price objective on the stock. Wedbush also issued estimates for LendingClub Corp.’s Q4 2016 earnings at ($0.11) EPS, Q1 2017 earnings at ($0.07) EPS, Q2 2017 earnings at ($0.05) EPS, Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at ($0.03) EPS and FY2017 earnings at ($0.17) EPS.

LendingClub Corp. (NYSE:LC) last released its earnings results on Monday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. LendingClub Corp. had a negative net margin of 21.75% and a negative return on equity of 6.68%. The business had revenue of $112.60 million for the quarter, compared to analysts’ expectations of $103.31 million. During the same period last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis.

Earnings History and Estimates for LendingClub Corp. (NYSE:LC)

Several other equities analysts have also weighed in on LC. FBR & Co set a $7.00 price objective on shares of LendingClub Corp. and gave the company a “hold” rating in a research report on Sunday, October 16th. BTIG Research restated a “buy” rating and set a $9.00 price objective on shares of LendingClub Corp. in a research report on Tuesday, November 1st. Vetr lowered shares of 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $5.00 price objective on shares of LendingClub Corp. in a research report on Tuesday, November 8th. Finally, Zacks Investment Research lowered shares of LendingClub Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Five research 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 stock presently has a consensus rating of “Hold” and an average target price of $11.79.

Shares of LendingClub Corp. (NYSE:LC) opened at 6.14 on Friday. LendingClub Corp. has a 52-week low of $3.44 and a 52-week high of $14.40. The firm’s market capitalization is $2.40 billion. The company has a 50 day moving average of $5.52 and a 200 day moving average of $5.18.

Institutional investors have recently made changes to their positions in the stock. SHANDA ASSET MANAGEMENT HOLDINGS Ltd increased 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 during the period. BlackRock Fund Advisors increased 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 during the period. Morgan Stanley increased its position in shares of LendingClub Corp. by 73.6% in the third quarter. Morgan Stanley now owns 14,389,243 shares of the company’s stock valued at $88,926,000 after buying an additional 6,099,557 shares during the period. State Street Corp increased its position in shares of LendingClub Corp. by 379.0% in the second quarter. State Street Corp now owns 5,469,018 shares of the company’s stock valued at $23,519,000 after buying an additional 4,327,146 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of LendingClub Corp. by 97.1% in the first quarter. Wellington Management Group LLP now owns 7,549,341 shares of the company’s stock valued at $62,659,000 after buying an additional 3,719,295 shares during the period. Institutional investors own 80.90% of the company’s stock.

In other LendingClub Corp. news, COO Sameer Gulati sold 5,826 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $5.60, for a total transaction of $32,625.60. Following the transaction, the chief operating officer now owns 964,797 shares in the company, valued at $5,402,863.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO John Macilwaine sold 25,000 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $5.09, for a total value of $127,250.00. Following the transaction, the chief technology officer now owns 409,308 shares in the company, valued at approximately $2,083,377.72. The disclosure for this sale can be found here. Corporate insiders own 11.40% 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.

5 Day Chart for NYSE:LC

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