LendingClub Corporation (LC) Given Consensus Rating of “Hold” by Analysts
Shares of LendingClub Corporation (NYSE:LC) have earned an average rating of “Hold” from the twenty-one brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.80.
LC has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Vetr downgraded shares of LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective on the stock. in a research report on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and set a $6.50 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Wedbush set a $6.00 price objective on shares of LendingClub Corporation and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, Canaccord Genuity reissued a “hold” rating and set a $7.00 price objective on shares of LendingClub Corporation in a research report on Monday, May 15th.
LendingClub Corporation (NYSE LC) opened at 6.31 on Friday. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The company’s market capitalization is $2.60 billion. The company’s 50 day moving average is $5.64 and its 200-day moving average is $5.60.
LendingClub Corporation (NYSE:LC) last released its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $139.60 million for the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. Equities analysts anticipate that LendingClub Corporation will post $0.04 EPS for the current fiscal year.
In other news, COO Sameer Gulati sold 8,170 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $5.70, for a total value of $46,569.00. Following the transaction, the chief operating officer now owns 258,102 shares in the company, valued at approximately $1,471,181.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Steven Allocca sold 35,378 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.09, for a total transaction of $215,452.02. Following the completion of the transaction, the president now owns 67,084 shares in the company, valued at approximately $408,541.56. The disclosure for this sale can be found here. Insiders have sold a total of 188,099 shares of company stock worth $1,118,285 in the last 90 days. Company insiders own 11.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares during the period. Teacher Retirement System of Texas boosted its position in shares of LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after buying an additional 5,130 shares during the period. Blair William & Co. IL boosted its position in shares of LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after buying an additional 2,650 shares during the period. GSA Capital Partners LLP acquired a new position in shares of LendingClub Corporation during the second quarter valued at $150,000. Finally, Brighton Jones LLC acquired a new position in shares of LendingClub Corporation during the second quarter valued at $154,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.
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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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