LendingClub Corp. (LC) Trading Up 3.7%
LendingClub Corp. (NYSE:LC) shares were up 3.7% during trading on Wednesday . The company traded as high as $4.28 and last traded at $4.25, with a volume of 5,450,296 shares traded. The stock had previously closed at $4.10.
A number of research analysts recently commented on LC shares. FBR & Co upped their price objective on LendingClub Corp. from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. Credit Suisse Group AG restated a “neutral” rating and set a $11.00 price objective (down from $16.00) on shares of LendingClub Corp. in a research note on Tuesday, May 10th. Pacific Crest downgraded LendingClub Corp. from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 10th. Sterne Agee CRT downgraded LendingClub Corp. from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $8.00 to $5.00 in a research note on Monday, May 9th. Finally, Macquarie started coverage on LendingClub Corp. in a research note on Thursday, May 26th. They set a “neutral” rating and a $5.15 price objective for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.21.
The firm has a market cap of $1.72 billion and a PE ratio of 300.67. The firm’s 50-day moving average is $4.56 and its 200-day moving average is $6.98.
LendingClub Corp. (NYSE:LC) last released its quarterly earnings results on Monday, May 9th. The company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. During the same period in the prior year, the business earned $0.02 earnings per share. The business had revenue of $151.30 million for the quarter, compared to analyst estimates of $148.20 million. The company’s revenue for the quarter was up 86.8% on a year-over-year basis. On average, equities research analysts predict that LendingClub Corp. will post $0.10 EPS for the current fiscal year.
In other news, COO Sameer Gulati sold 8,072 shares of LendingClub Corp. stock in a transaction on Monday, June 27th. The stock was 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 approximately $4,185,156.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tian Qiao Chen bought 24,299,900 shares of the stock in a transaction dated Friday, June 17th. The stock was purchased at an average cost of $4.01 per share, with a total value of $97,442,599.00. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its stake in 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 during the period. New York State Common Retirement Fund boosted its stake in 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 during the period. Jennison Associates LLC boosted its stake in LendingClub Corp. by 3.8% in the fourth quarter. Jennison Associates LLC now owns 814,371 shares of the company’s stock valued at $8,999,000 after buying an additional 30,040 shares during the period. Janus Capital Management boosted its stake in 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 during the period. Finally, Trexquant Investment LP purchased a new stake in LendingClub Corp. during the fourth quarter 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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