LendingClub Corp (LC) Downgraded to Hold at Vetr Inc.
Vetr lowered shares of LendingClub Corp (NYSE:LC) from a buy rating to a hold rating in a research report report published on Thursday morning. Vetr currently has $6.00 price objective on the credit services provider’s stock.
LC has been the topic of a number of other research reports. Guggenheim raised LendingClub Corp from a neutral rating to a buy rating and set a $7.00 price target on the stock in a research report on Thursday, March 16th. Wedbush raised LendingClub Corp from an underperform rating to a neutral rating and increased their price target for the company from $4.50 to $5.00 in a research report on Wednesday, March 22nd. Zacks Investment Research raised LendingClub Corp from a hold rating to a buy rating and set a $6.25 price target on the stock in a research report on Tuesday, January 10th. Canaccord Genuity reaffirmed a hold rating and issued a $7.00 price target on shares of LendingClub Corp in a research report on Tuesday, January 3rd. Finally, BTIG Research reissued a buy rating and set a $9.00 target price on shares of LendingClub Corp in a research report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $6.04.
LendingClub Corp (NYSE:LC) traded down 1.72% during mid-day trading on Thursday, hitting $5.70. The stock had a trading volume of 2,773,222 shares. LendingClub Corp has a one year low of $3.44 and a one year high of $8.41. The firm’s 50-day moving average price is $5.36 and its 200 day moving average price is $5.57. The company’s market cap is $2.28 billion.
LendingClub Corp (NYSE:LC) last posted its quarterly earnings results on Tuesday, February 14th. The credit services provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $129.20 million for the quarter, compared to analyst estimates of $121.84 million. LendingClub Corp had a negative return on equity of 6.68% and a negative net margin of 21.75%. LendingClub Corp’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. On average, equities research analysts anticipate that LendingClub Corp will post $0.05 EPS for the current year.
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In related news, insider Sandeep Bhandari sold 8,898 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $5.66, for a total transaction of $50,362.68. Following the transaction, the insider now owns 49,959 shares in the company, valued at approximately $282,767.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Sameer Gulati sold 5,875 shares of LendingClub Corp stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $5.23, for a total value of $30,726.25. Following the completion of the transaction, the chief operating officer now owns 102,181 shares in the company, valued at $534,406.63. The disclosure for this sale can be found here. Insiders have sold a total of 65,998 shares of company stock worth $410,173 in the last 90 days. 11.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC bought a new position in shares of LendingClub Corp during the first quarter valued at $1,696,000. Nisa Investment Advisors LLC increased its position in shares of LendingClub Corp by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock valued at $191,000 after buying an additional 31,840 shares during the period. Telemus Capital LLC increased its position in shares of LendingClub Corp by 1.4% in the first quarter. Telemus Capital LLC now owns 309,545 shares of the credit services provider’s stock valued at $1,699,000 after buying an additional 4,420 shares during the period. Fox Run Management L.L.C. increased its position in shares of LendingClub Corp by 122.9% in the first quarter. Fox Run Management L.L.C. now owns 39,000 shares of the credit services provider’s stock valued at $214,000 after buying an additional 21,500 shares during the period. Finally, Bank of Montreal Can increased its position in shares of LendingClub Corp by 37,517.7% in the first quarter. Bank of Montreal Can now owns 263,700 shares of the credit services provider’s stock valued at $1,448,000 after buying an additional 262,999 shares during the period. Institutional investors own 80.27% of the company’s stock.
LendingClub Corp Company Profile
LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.
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