LendingClub Corp. (LC) Earns Underperform Rating from Analysts at Wedbush
LC has been the subject of several other research reports. Pacific Crest reissued a hold rating on shares of LendingClub Corp. in a research report on Tuesday, August 9th. 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 report on Monday, July 18th. BTIG Research set a $9.00 target price on shares of LendingClub Corp. and gave the stock a buy rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of LendingClub Corp. from a hold rating to a sell rating in a research report on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. reissued a neutral rating and issued a $4.30 target price (down previously from $4.40) on shares of LendingClub Corp. in a research report on Tuesday, June 21st. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $12.51.
LendingClub Corp. (NYSE:LC) opened at 5.54 on Monday. The company’s 50-day moving average is $5.84 and its 200 day moving average is $5.58. The stock’s market capitalization is $2.17 billion. LendingClub Corp. has a 12-month low of $3.44 and a 12-month high of $15.00.
LendingClub Corp. (NYSE:LC) last released its earnings results on Monday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. The company earned $102.40 million during the quarter, compared to the consensus estimate of $110.65 million. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. LendingClub Corp.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. On average, analysts predict that LendingClub Corp. will post ($0.14) EPS for the current year.
In related news, insider Sandeep Bhandari sold 9,771 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $5.55, for a total value of $54,229.05. Following the sale, the insider now directly owns 219,600 shares in the company, valued at approximately $1,218,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sameer Gulati sold 6,105 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $6.08, for a total transaction of $37,118.40. Following the completion of the sale, the insider now owns 958,692 shares in the company, valued at $5,828,847.36. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP raised its stake in LendingClub Corp. by 41.3% in the first quarter. Bayesian Capital Management LP now owns 22,907 shares of the company’s stock worth $190,000 after buying an additional 6,700 shares in the last quarter. Ameriprise Financial Inc. raised its stake in LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock worth $100,000 after buying an additional 6,205 shares in the last quarter. Psagot Investment House Ltd. raised its stake in LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock worth $103,000 after buying an additional 15,000 shares in the last quarter. Geduld E E purchased a new stake in LendingClub Corp. during the second quarter worth about $108,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in LendingClub Corp. during the second quarter worth about $110,000. Institutional investors and hedge funds own 83.90% of the company’s stock.
LendingClub Corp. Company Profile
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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