LendingClub Corp. (LC) Trading Down 1.8%
LendingClub Corp. (NYSE:LC)’s share price was down 1.8% during trading on Tuesday . The stock traded as low as $4.25 and last traded at $4.29, with a volume of 5,698,465 shares changing hands. The stock had previously closed at $4.37.
Several equities analysts have commented on LC shares. Royal Bank Of Canada started coverage on LendingClub Corp. in a research report on Wednesday, March 16th. They issued an “outperform” rating and a $92.00 price objective on the stock. Compass Point reaffirmed a “sell” rating and issued a $6.00 price objective on shares of LendingClub Corp. in a research report on Friday, April 1st. Raymond James Financial Inc. started coverage on LendingClub Corp. in a research report on Thursday, April 14th. They issued a “market perform” rating on the stock. BTIG Research reaffirmed a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corp. in a research report on Friday, May 27th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $11.00 price objective (down previously from $16.00) on shares of LendingClub Corp. in a research report on Tuesday, May 10th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.21.
The stock’s 50-day moving average is $4.57 and its 200 day moving average is $7.04. The firm has a market cap of $1.56 billion and a P/E ratio of 273.33.
LendingClub Corp. (NYSE:LC) last posted its earnings results on Monday, May 9th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $151.30 million for the quarter, compared to analyst estimates of $148.20 million. During the same period last year, the business earned $0.02 EPS. LendingClub Corp.’s revenue was up 86.8% compared to the same quarter last year. On average, equities research analysts predict that LendingClub Corp. will post $0.10 earnings per share for the current fiscal year.
In other news, major shareholder Tian Qiao Chen acquired 4,391,440 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was acquired at an average cost of $4.65 per share, with a total value of $20,420,196.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Sameer Gulati sold 8,072 shares of LendingClub Corp. stock in a transaction on Monday, June 27th. The shares were sold at an average price of $4.29, for a total value of $34,628.88. Following the completion of the sale, the chief operating officer now directly owns 975,561 shares of the company’s stock, valued at $4,185,156.69. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Trexquant Investment LP purchased a new stake in shares of LendingClub Corp. during the fourth quarter worth $1,081,000. California State Teachers Retirement System boosted its stake in shares of LendingClub Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 123,661 shares of the company’s stock worth $1,366,000 after buying an additional 2,138 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of LendingClub Corp. during the fourth quarter worth $1,563,000. New York State Common Retirement Fund boosted its stake in shares of LendingClub Corp. by 10.9% in the fourth quarter. New York State Common Retirement Fund now owns 169,868 shares of the company’s stock worth $1,877,000 after buying an additional 16,668 shares during the last quarter. Finally, Nationwide Fund Advisors purchased a new stake in shares of LendingClub Corp. during the fourth quarter worth $2,989,000.
LendingClub Corporation (Lending Club) 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 is only available on a limited basis to large institutional investors.
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