LendingClub Corp. (LC) Shares Up 3.7%
Shares of LendingClub Corp. (NYSE:LC) were up 3.7% during trading on Wednesday . The stock traded as high as $4.28 and last traded at $4.25, with a volume of 5,450,296 shares trading hands. The stock had previously closed at $4.10.
Several equities analysts recently issued reports on LC shares. Royal Bank Of Canada began coverage on shares of LendingClub Corp. in a research report on Wednesday, March 16th. They set an “outperform” rating and a $92.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $9.00 target price on shares of LendingClub Corp. in a report on Wednesday, June 29th. FBR & Co upped their target price on shares of LendingClub Corp. from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 9th. Compass Point reaffirmed a “sell” rating and set a $6.00 target price on shares of LendingClub Corp. in a report on Friday, April 1st. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $4.30 target price (down previously from $4.40) on shares of LendingClub Corp. in a report on Tuesday, June 21st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.21.
The firm has a market capitalization of $1.62 billion and a P/E ratio of 283.33. The stock has a 50-day moving average of $4.56 and a 200-day moving average of $7.02.
LendingClub Corp. (NYSE:LC) last released 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. During the same quarter in the previous year, the company posted $0.02 EPS. The company had revenue of $151.30 million for the quarter, compared to the consensus estimate of $148.20 million. The business’s revenue was up 86.8% on a year-over-year basis. Equities analysts expect that LendingClub Corp. will post $0.10 EPS for the current year.
In other LendingClub Corp. news, COO Sameer Gulati sold 8,072 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $4.29, for a total transaction of $34,628.88. Following the completion of the sale, the chief operating officer now directly owns 975,561 shares in the company, valued at $4,185,156.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tian Qiao Chen bought 4,391,440 shares of the business’s stock in a transaction on Thursday, June 16th. The shares were acquired at an average price of $4.65 per share, with a total value of $20,420,196.00. The disclosure for this purchase can be found here.
A number of hedge funds recently bought and sold shares of LC. California State Teachers Retirement System increased 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. New York State Common Retirement Fund increased 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. Jennison Associates LLC increased its stake in shares of LendingClub Corp. by 3.8% in the fourth quarter. Jennison Associates LLC now owns 814,371 shares of the company’s stock worth $8,999,000 after buying an additional 30,040 shares during the last quarter. Janus Capital Management increased its stake in shares of LendingClub Corp. by 38.2% in the third quarter. Janus Capital Management now owns 317,337 shares of the company’s stock worth $4,198,000 after buying an additional 87,743 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of LendingClub Corp. during the fourth quarter worth $1,081,000.
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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