LendingClub Corp. (LC) Stock Price Down 2.6%
LendingClub Corp. (NYSE:LC) shares were down 2.6% on Friday . The stock traded as low as $4.46 and last traded at $4.47, with a volume of 4,143,837 shares trading hands. The stock had previously closed at $4.59.
Several research analysts recently weighed in on LC shares. Morgan Stanley reissued a “buy” rating on shares of LendingClub Corp. in a research note on Sunday, May 8th. BTIG Research cut their target price on shares of LendingClub Corp. from $21.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, May 10th. Vetr downgraded shares of LendingClub Corp. from a “strong-buy” rating to a “buy” rating and set a $5.11 target price for the company. in a research note on Monday. Stifel Nicolaus downgraded shares of LendingClub Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Finally, Canaccord Genuity downgraded shares of LendingClub Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $16.00 to $8.00 in a research note on Monday, May 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.94.
The stock has a market capitalization of $1.68 billion and a price-to-earnings ratio of 294.00. The stock has a 50 day moving average price of $4.54 and a 200 day moving average price of $6.78.
LendingClub Corp. (NYSE:LC) last announced its earnings results on Monday, May 9th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $151.30 million for the quarter, compared to analysts’ expectations of $148.20 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was up 86.8% on a year-over-year basis. On average, equities analysts expect that LendingClub Corp. will post $0.08 earnings per share for the current fiscal year.
In other 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 of the company’s stock, valued at $4,185,156.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Tian Qiao Chen bought 4,391,440 shares of LendingClub Corp. stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of $4.65 per share, with a total value of $20,420,196.00. The disclosure for this purchase can be found here.
Other large investors recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in shares of LendingClub Corp. during the fourth quarter valued at approximately $1,081,000. 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 valued at $1,366,000 after buying an additional 2,138 shares in 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 valued at $1,877,000 after buying an additional 16,668 shares in the last quarter. Nationwide Fund Advisors acquired a new stake in shares of LendingClub Corp. during the fourth quarter valued at about $2,989,000. Finally, 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 valued at $4,198,000 after buying an additional 87,743 shares in the last quarter.
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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