LendingClub Corporation (NYSE:LC) announced its quarterly earnings results on Monday. The credit services provider reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06), Briefing.com reports. The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $134.02 million. LendingClub Corporation had a negative return on equity of 14.31% and a negative net margin of 38.40%. The business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS.

Shares of LendingClub Corporation (NYSE:LC) opened at 5.46 on Tuesday. The company’s 50 day moving average price is $5.43 and its 200 day moving average price is $5.63. LendingClub Corporation has a 52-week low of $4.30 and a 52-week high of $6.78. The company’s market capitalization is $2.21 billion.

In other LendingClub Corporation news, insider Bradley Coleman sold 29,906 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $5.71, for a total transaction of $170,763.26. Following the transaction, the insider now directly owns 76,876 shares in the company, valued at approximately $438,961.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas W. Casey sold 5,254 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $5.65, for a total value of $29,685.10. Following the transaction, the chief financial officer now owns 31,203 shares in the company, valued at $176,296.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 463,239 shares of company stock worth $2,677,984. Company insiders own 11.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after buying an additional 21,445,128 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in LendingClub Corporation during the first quarter valued at approximately $32,440,000. Nikko Asset Management Americas Inc. increased its position in LendingClub Corporation by 1,324.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,908,500 shares of the credit services provider’s stock valued at $16,026,000 after buying an additional 2,704,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in LendingClub Corporation by 1,284.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock valued at $15,382,000 after buying an additional 2,590,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in LendingClub Corporation by 142.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,672,729 shares of the credit services provider’s stock valued at $20,163,000 after buying an additional 2,159,066 shares during the last quarter. Institutional investors own 90.92% of the company’s stock.

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A number of equities analysts have commented on LC shares. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 price target on the stock. in a research note on Tuesday, April 11th. BTIG Research reaffirmed a “buy” rating and issued a $9.00 price target on shares of LendingClub Corporation in a research note on Monday, May 8th. Zacks Investment Research raised LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, June 6th. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price target on shares of LendingClub Corporation in a research note on Monday, May 15th. Finally, Stifel Nicolaus started coverage on LendingClub Corporation in a research note on Wednesday, April 19th. They issued a “hold” rating and a $6.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $6.51.

About LendingClub Corporation

LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History for LendingClub Corporation (NYSE:LC)

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