Scott Sanborn Sells 46,138 Shares of LendingClub Corp. (LC) Stock
LendingClub Corp. (NYSE:LC) CEO Scott Sanborn sold 46,138 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $6.18, for a total transaction of $285,132.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
LendingClub Corp. (NYSE:LC) opened at 6.06 on Friday. LendingClub Corp. has a 1-year low of $3.44 and a 1-year high of $14.40. The stock’s market capitalization is $2.39 billion. The stock has a 50 day moving average of $5.53 and a 200 day moving average of $5.13.
LendingClub Corp. (NYSE:LC) last announced its quarterly earnings data 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 company 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 6.68%. LendingClub Corp.’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. On average, analysts expect that LendingClub Corp. will post ($0.12) earnings per share for the current year.
A number of research analysts have issued reports on LC shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of LendingClub Corp. in a report on Monday, September 12th. Zacks Investment Research upgraded shares of LendingClub Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 12th. Vetr upgraded shares of LendingClub Corp. from a “strong sell” rating to a “sell” rating and set a $4.91 price objective on the stock in a research note on Thursday, September 1st. Craig Hallum upgraded shares of LendingClub Corp. from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Friday, October 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corp. in a research note on Tuesday, November 1st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. LendingClub Corp. presently has an average rating of “Hold” and a consensus target price of $11.79.
A number of institutional investors have recently made changes to their positions in LC. Credit Suisse AG boosted its position in shares of LendingClub Corp. by 14.2% in the third quarter. Credit Suisse AG now owns 10,909,467 shares of the company’s stock valued at $67,421,000 after buying an additional 1,353,114 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in shares of LendingClub Corp. during the third quarter valued at about $7,011,000. Cetera Advisor Networks LLC purchased a new position in shares of LendingClub Corp. during the third quarter valued at about $109,000. Hillhouse Capital Management Ltd. purchased a new position in shares of LendingClub Corp. during the third quarter valued at about $618,000. Finally, RBF Capital LLC purchased a new position in shares of LendingClub Corp. during the third quarter valued at about $922,000. 81.27% of the stock is currently owned by institutional investors.
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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