Stifel Nicolaus Reiterates “Hold” Rating for LendingClub Corporation (NYSE:LC)
LendingClub Corporation (NYSE:LC)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday. They presently have a $6.50 price target on the credit services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.91% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, June 6th. Vetr raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.10 target price on the stock in a research note on Wednesday, May 24th. BTIG Research reissued a “buy” rating and issued a $9.00 price target on shares of LendingClub Corporation in a research note on Monday, May 8th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $7.00 price target on shares of LendingClub Corporation in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.62.
Shares of LendingClub Corporation (NYSE:LC) opened at 6.08 on Thursday. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The company has a 50-day moving average of $5.41 and a 200-day moving average of $5.62. The stock’s market capitalization is $2.46 billion.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.99%. The company had revenue of $139.60 million for the quarter, compared to the consensus estimate of $134.02 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. LendingClub Corporation’s quarterly revenue was up 35.0% compared to the same quarter last year. Equities research analysts anticipate that LendingClub Corporation will post $0.05 EPS for the current year.
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In other LendingClub Corporation news, COO Sameer Gulati sold 8,305 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total transaction of $42,189.40. Following the completion of the transaction, the chief operating officer now owns 265,657 shares in the company, valued at approximately $1,349,537.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas W. Casey sold 5,254 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $5.65, for a total transaction of $29,685.10. Following the transaction, the chief financial officer now owns 31,203 shares of the company’s stock, valued at approximately $176,296.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,239 shares of company stock valued at $2,199,584 in the last quarter. 11.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LC. Bank of Montreal Can boosted its position in LendingClub Corporation 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. BNP Paribas Arbitrage SA boosted its position in shares of LendingClub Corporation by 871.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,071,460 shares of the credit services provider’s stock valued at $5,882,000 after buying an additional 961,141 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of LendingClub Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock valued at $148,795,000 after buying an additional 1,119,288 shares during the last quarter. FMR LLC bought a new position in shares of LendingClub Corporation during the fourth quarter valued at about $407,000. Finally, Karp Capital Management Corp bought a new position in shares of LendingClub Corporation during the first quarter valued at about $321,000. Institutional investors own 90.92% of the company’s stock.
About LendingClub Corporation
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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