LendingClub Corp. (LC) Trading 5.5% Higher
LendingClub Corp. (NYSE:LC) shares traded up 5.5% during mid-day trading on Wednesday . The stock traded as high as $5.55 and last traded at $5.53, with a volume of 3,813,131 shares traded. The stock had previously closed at $5.24.
A number of research analysts have recently weighed in on the company. Canaccord Genuity downgraded LendingClub Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $16.00 to $8.00 in a research note on Monday, May 9th. FBR & Co increased their price target on LendingClub Corp. from $7.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, May 9th. Sterne Agee CRT downgraded LendingClub Corp. from a “neutral” rating to an “underperform” rating and cut their price target for the company from $8.00 to $5.00 in a research note on Monday, May 9th. Stifel Nicolaus downgraded LendingClub Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Finally, Morgan Stanley reissued a “buy” rating on shares of LendingClub Corp. in a research note on Sunday, May 8th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. LendingClub Corp. presently has an average rating of “Hold” and an average price target of $13.04.
The firm’s 50-day moving average is $4.76 and its 200 day moving average is $6.20. The company’s market capitalization is $2.16 billion.
LendingClub Corp. (NYSE:LC) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.07. During the same quarter in the previous year, the business posted $0.03 EPS. The firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $110.65 million. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts expect that LendingClub Corp. will post ($0.15) earnings per share for the current fiscal year.
In related news, COO Sameer Gulati sold 5,489 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $4.60, for a total value of $25,249.40. Following the transaction, the chief operating officer now owns 970,623 shares in the company, valued at $4,464,865.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Tian Qiao Chen bought 4,391,440 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was purchased at an average price of $4.65 per share, for a total transaction of $20,420,196.00. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in LendingClub Corp. stock. Trexquant Investment LP bought a new stake in shares of LendingClub Corp. (NYSE:LC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 97,800 shares of the company’s stock, valued at approximately $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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