LendingClub Corporation (NYSE:LC) had its price target reduced by Morgan Stanley from $7.00 to $6.50 in a research note issued to investors on Wednesday. They currently have an overweight rating on the credit services provider’s stock.

Several other equities analysts also recently commented on the company. Zacks Investment Research downgraded LendingClub Corporation from a buy rating to a hold rating in a research report on Friday, August 18th. Vetr downgraded 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 restated a hold rating and issued 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 LendingClub Corporation and gave the company a hold rating in a research report on Tuesday, August 15th. Finally, Canaccord Genuity restated a hold rating and issued a $7.00 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. LendingClub Corporation has a consensus rating of Hold and an average target price of $6.89.

LendingClub Corporation (NYSE LC) traded up $0.01 during midday trading on Wednesday, reaching $4.30. The company had a trading volume of 18,226,500 shares, compared to its average volume of 9,195,636. The company has a current ratio of 18.02, a quick ratio of 18.90 and a debt-to-equity ratio of 3.52. LendingClub Corporation has a 12 month low of $4.20 and a 12 month high of $6.78.

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In other news, insider Timothy Bogan sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $6.50, for a total transaction of $162,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Sameer Gulati sold 8,351 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $5.64, for a total value of $47,099.64. Following the transaction, the chief operating officer now directly owns 296,221 shares in the company, valued at approximately $1,670,686.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,116 shares of company stock worth $1,288,135. Insiders own 11.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LC. UBS Asset Management Americas Inc. boosted its holdings in shares of LendingClub Corporation by 24.1% in the first quarter. UBS Asset Management Americas Inc. now owns 170,708 shares of the credit services provider’s stock valued at $937,000 after purchasing an additional 33,116 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of LendingClub Corporation by 1.7% in the first quarter. Parametric Portfolio Associates LLC now owns 180,740 shares of the credit services provider’s stock valued at $992,000 after purchasing an additional 2,934 shares during the period. Prudential Financial Inc. boosted its holdings 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 purchasing an additional 760 shares during the period. Teachers Advisors LLC boosted its holdings in shares of LendingClub Corporation by 4.9% in the first quarter. Teachers Advisors LLC now owns 567,651 shares of the credit services provider’s stock valued at $3,116,000 after purchasing an additional 26,710 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of LendingClub Corporation by 15.4% in the first quarter. Legal & General Group Plc now owns 118,368 shares of the credit services provider’s stock valued at $649,000 after purchasing an additional 15,765 shares during the period. Hedge funds and other institutional investors own 87.80% 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.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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