LendingClub Corporation (NYSE:LC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of LendingClub Corporation (NYSE:LC) have been given a consensus rating of “Hold” by the twenty-one brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.51.
Several research analysts recently issued reports on LC shares. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 target price on the stock. in a research report on Tuesday, April 11th. Morgan Stanley reissued an “overweight” rating and issued a $8.00 price objective on shares of LendingClub Corporation in a research report on Tuesday, April 18th. Stifel Nicolaus initiated coverage on LendingClub Corporation in a research report on Wednesday, April 19th. They issued a “hold” rating and a $6.00 price objective on the stock. UBS AG raised LendingClub Corporation from a “neutral” rating to a “positive” rating in a research report on Monday, May 1st. Finally, Susquehanna Bancshares Inc raised LendingClub Corporation from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research report on Monday, May 1st.
In other LendingClub Corporation news, Director Simon Williams sold 80,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.98, for a total value of $478,400.00. Following the sale, the director now directly owns 161,053 shares in the company, valued at $963,096.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bradley Coleman sold 29,906 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.71, for a total value of $170,763.26. Following the completion of the sale, the insider now owns 76,876 shares in the company, valued at $438,961.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 463,239 shares of company stock worth $2,677,984. Corporate insiders own 11.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of LendingClub Corporation by 37,517.7% in the first quarter. Bank of Montreal Can now owns 263,700 shares of the credit services provider’s stock valued at $1,448,000 after buying an additional 262,999 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in LendingClub Corporation by 871.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,071,460 shares of the credit services provider’s stock worth $5,882,000 after buying an additional 961,141 shares during the last quarter. Vanguard Group Inc. raised its stake in LendingClub Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock worth $148,795,000 after buying an additional 1,119,288 shares during the last quarter. FMR LLC bought a new stake in LendingClub Corporation during the fourth quarter worth about $407,000. Finally, Karp Capital Management Corp bought a new stake in LendingClub Corporation during the first quarter worth about $321,000. Hedge funds and other institutional investors own 90.92% of the company’s stock.
Shares of LendingClub Corporation (NYSE LC) opened at 5.46 on Tuesday. The company’s market cap is $2.21 billion. LendingClub Corporation has a 52 week low of $4.30 and a 52 week high of $6.78. The stock’s 50 day moving average price is $5.43 and its 200-day moving average price is $5.63.
LendingClub Corporation (NYSE:LC) last announced its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The company 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%. LendingClub Corporation’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Analysts expect that LendingClub Corporation will post $0.03 EPS for the current year.
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LendingClub Corporation Company Profile
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.
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