LendingClub Corporation (NYSE:LC) – Investment analysts at Craig Hallum cut their Q4 2017 earnings per share estimates for LendingClub Corporation in a research note issued on Friday. Craig Hallum analyst B. Berning now anticipates that the credit services provider will earn $0.00 per share for the quarter, down from their previous estimate of $0.01.

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

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LC has been the subject of a number of other reports. Zacks Investment Research upgraded LendingClub Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. ValuEngine cut LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Stifel Nicolaus restated a “hold” rating and set a $6.50 target price on shares of LendingClub Corporation in a report on Thursday, August 10th. Finally, Canaccord Genuity restated a “hold” rating and set a $7.00 target price on shares of LendingClub Corporation in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. LendingClub Corporation presently has an average rating of “Hold” and a consensus target price of $6.78.

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of LendingClub Corporation by 0.4% during the 1st quarter. SG Americas Securities LLC now owns 43,485 shares of the credit services provider’s stock worth $239,000 after acquiring an additional 171 shares in the last quarter. Amalgamated Bank raised its position in shares of LendingClub Corporation by 0.7% during the 2nd quarter. Amalgamated Bank now owns 41,156 shares of the credit services provider’s stock worth $227,000 after acquiring an additional 276 shares in the last quarter. Prudential Financial Inc. raised its position in shares of LendingClub Corporation by 3.6% during the 1st quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after acquiring an additional 760 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of LendingClub Corporation by 4.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock worth $200,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of LendingClub Corporation by 3.7% during the 2nd quarter. Principal Financial Group Inc. now owns 43,834 shares of the credit services provider’s stock worth $242,000 after acquiring an additional 1,574 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

In other news, COO Sameer Gulati sold 8,305 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total transaction of $42,189.40. Following the sale, the chief operating officer now owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas W. Casey sold 7,287 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $6.08, for a total value of $44,304.96. Following the sale, the chief financial officer now directly owns 39,758 shares in the company, valued at approximately $241,728.64. The disclosure for this sale can be found here. Insiders have sold a total of 213,070 shares of company stock worth $1,283,225 in the last three months. Corporate insiders own 11.40% 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.

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

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