Brokers Offer Predictions for LendingClub Corp’s Q2 2018 Earnings (LC)
LendingClub Corp (NYSE:LC) – Research analysts at Wedbush issued their Q2 2018 earnings estimates for shares of LendingClub in a report released on Friday. Wedbush analyst H. Coffey anticipates that the credit services provider will post earnings per share of ($0.01) for the quarter. Wedbush has a “Hold” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for LendingClub’s Q3 2018 earnings at $0.00 EPS and Q4 2018 earnings at $0.00 EPS.
LC has been the topic of a number of other research reports. ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Vetr cut LendingClub from a “buy” rating to a “hold” rating and set a $6.55 price target on the stock. in a report on Monday, September 4th. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price target on shares of LendingClub in a report on Monday, November 6th. Credit Suisse Group lowered their price objective on shares of LendingClub from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Finally, BidaskClub lowered shares of LendingClub from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in LendingClub during the 3rd quarter worth approximately $3,373,000. PEAK6 Investments L.P. grew its position in LendingClub by 91.9% during the 3rd quarter. PEAK6 Investments L.P. now owns 152,673 shares of the credit services provider’s stock worth $930,000 after purchasing an additional 73,126 shares in the last quarter. First Republic Investment Management Inc. grew its position in LendingClub by 5.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock worth $4,887,000 after purchasing an additional 43,247 shares in the last quarter. Jackson Square Partners LLC grew its position in LendingClub by 2.8% during the 3rd quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock worth $60,191,000 after purchasing an additional 273,650 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of LendingClub during the 3rd quarter valued at $804,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.
In other LendingClub news, COO Sameer Gulati sold 8,141 shares of LendingClub stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $6.02, for a total transaction of $49,008.82. Following the transaction, the chief operating officer now directly owns 288,637 shares in the company, valued at approximately $1,737,594.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas W. Casey acquired 10,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were purchased at an average price of $4.17 per share, for a total transaction of $41,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 88,765 shares of company stock worth $458,573. 9.72% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: “Brokers Offer Predictions for LendingClub Corp’s Q2 2018 Earnings (LC)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/11/brokers-offer-predictions-for-lendingclub-corps-q2-2018-earnings-lc.html.
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.
Receive News & Ratings for LendingClub Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corp and related companies with MarketBeat.com's FREE daily email newsletter.