LendingClub Corporation (NYSE:LC) – Stock analysts at Wedbush boosted their Q3 2017 EPS estimates for shares of LendingClub Corporation in a research report issued on Tuesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings of ($0.02) per share for the quarter, up from their previous estimate of ($0.03). Wedbush currently has a “Hold” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for LendingClub Corporation’s Q4 2017 earnings at $0.02 EPS, FY2017 earnings at ($0.13) EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $0.03 EPS, Q4 2018 earnings at $0.06 EPS and FY2018 earnings at $0.08 EPS.

LC has been the topic of several other reports. BidaskClub lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. UBS AG upgraded LendingClub Corporation from a “neutral” rating to a “positive” rating in a research note on Monday, May 1st. ValuEngine lowered LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Stifel Nicolaus restated a “hold” rating and set a $6.50 price target on shares of LendingClub Corporation in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.78.

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LendingClub Corporation (LC) opened at 5.83 on Friday. The firm’s 50-day moving average price is $5.44 and its 200-day moving average price is $5.62. The company’s market cap is $2.40 billion. LendingClub Corporation has a 12-month low of $4.64 and a 12-month high of $6.78.

LendingClub Corporation (NYSE:LC) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The firm had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. LendingClub Corporation’s revenue for the quarter was up 35.0% on a year-over-year basis.

In other LendingClub Corporation news, COO Sameer Gulati sold 8,305 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total transaction of $42,189.40. Following the transaction, the chief operating officer now owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sandeep Bhandari sold 69,050 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $5.87, for a total value of $405,323.50. Following the transaction, the insider now directly owns 47,737 shares in the company, valued at approximately $280,216.19. The disclosure for this sale can be found here. Insiders sold a total of 329,846 shares of company stock worth $1,882,204 over the last three months. 11.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in LendingClub Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock valued at $156,505,000 after buying an additional 1,300,878 shares in the last quarter. BlackRock Inc. increased its position in LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after buying an additional 21,445,128 shares in the last quarter. Fred Alger Management Inc. increased its position in LendingClub Corporation by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock valued at $67,981,000 after buying an additional 681,192 shares in the last quarter. Jackson Square Partners LLC increased its position in LendingClub Corporation by 23.3% in the second quarter. Jackson Square Partners LLC now owns 9,610,092 shares of the credit services provider’s stock valued at $52,951,000 after buying an additional 1,817,453 shares in the last quarter. Finally, State Street Corp increased its position in LendingClub Corporation by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock valued at $35,602,000 after buying an additional 323,373 shares in the last quarter. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for LendingClub Corporation (NYSE:LC)

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