LendingClub Corporation (LC) Stock Rating Reaffirmed by FBR & Co
LendingClub Corporation (NYSE:LC)‘s stock had its “market perform” rating restated by stock analysts at FBR & Co in a report released on Monday, May 15th, StockTargetPrices.com reports. They currently have a $6.50 target price on the credit services provider’s stock. FBR & Co’s price target suggests a potential upside of 15.86% from the company’s current price.
Other equities analysts also recently issued reports about the company. Vetr downgraded LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 target price for the company. in a research note on Tuesday, April 11th. Guggenheim raised LendingClub Corporation from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Thursday, March 16th. BTIG Research reaffirmed a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corporation in a research note on Thursday, February 16th. Stifel Nicolaus began coverage on LendingClub Corporation in a research note on Wednesday, April 19th. They issued a “hold” rating and a $6.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price objective on shares of LendingClub Corporation in a research note on Friday, May 5th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.55.
Shares of LendingClub Corporation (NYSE:LC) traded down 0.71% during mid-day trading on Monday, reaching $5.61. The company’s stock had a trading volume of 4,408,737 shares. LendingClub Corporation has a 1-year low of $4.03 and a 1-year high of $6.78. The company’s 50 day moving average price is $5.76 and its 200-day moving average price is $5.64. The company’s market capitalization is $2.27 billion.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $124.50 million for the quarter, compared to analysts’ expectations of $121.63 million. LendingClub Corporation had a negative return on equity of 14.31% and a negative net margin of 38.40%. The business’s quarterly revenue was down 18.3% on a year-over-year basis. During the same period last year, the company posted $0.05 earnings per share. Analysts predict that LendingClub Corporation will post $0.04 earnings per share for the current fiscal year.
In other LendingClub Corporation news, Director Simon Williams sold 80,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.98, for a total transaction of $478,400.00. Following the sale, the director now owns 161,053 shares in the company, valued at approximately $963,096.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Sameer Gulati sold 5,875 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $5.23, for a total value of $30,726.25. Following the sale, the chief operating officer now owns 102,181 shares in the company, valued at approximately $534,406.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 458,496 shares of company stock worth $2,654,801. 11.40% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of LC. Chartwell Investment Partners LLC acquired a new stake in LendingClub Corporation during the third quarter valued at about $7,011,000. Hillhouse Capital Management Ltd. acquired a new stake in LendingClub Corporation during the third quarter valued at about $618,000. RBF Capital LLC acquired a new stake in LendingClub Corporation during the third quarter valued at about $922,000. Ziff Brothers Investments L.L.C. acquired a new stake in LendingClub Corporation during the third quarter valued at about $9,270,000. Finally, Black Maple Capital Management LP boosted its stake in LendingClub Corporation by 3.2% in the third quarter. Black Maple Capital Management LP now owns 349,263 shares of the credit services provider’s stock valued at $2,158,000 after buying an additional 10,914 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.
LendingClub Corporation 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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