LendingClub Corporation (NYSE:LC) had its price objective dropped by analysts at Morgan Stanley from $7.00 to $6.50 in a report released on Wednesday. The firm presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 51.16% from the company’s current price.

Several other equities analysts have also recently issued reports on LC. Zacks Investment Research cut LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. UBS AG upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a research note on Thursday, August 3rd. Finally, CIBC upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. LendingClub Corporation currently has an average rating of “Hold” and an average target price of $6.89.

Shares of LendingClub Corporation (NYSE LC) traded up $0.01 on Wednesday, hitting $4.30. The stock had a trading volume of 18,212,099 shares, compared to its average volume of 6,072,386. The company has a current ratio of 19.05, a quick ratio of 18.90 and a debt-to-equity ratio of 3.87. LendingClub Corporation has a 12-month low of $4.20 and a 12-month high of $6.78.

LendingClub Corporation (NYSE:LC) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm 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 9.11% and a negative net margin of 17.19%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. analysts forecast that LendingClub Corporation will post -0.14 earnings per share for the current fiscal year.

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In other news, CFO Thomas W. Casey sold 7,287 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $6.08, for a total transaction of $44,304.96. Following the transaction, the chief financial officer now directly owns 39,758 shares of the company’s stock, valued at $241,728.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 46,667 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $5.77, for a total transaction of $269,268.59. Following the transaction, the chief executive officer now directly owns 970,337 shares in the company, valued at $5,598,844.49. The disclosure for this sale can be found here. In the last three months, insiders sold 213,116 shares of company stock valued at $1,288,135. 11.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of LC. BlackRock Inc. increased its position in shares of LendingClub Corporation by 3,276.7% during the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after acquiring an additional 21,445,128 shares during the period. JPMorgan Chase & Co. increased its holdings in LendingClub Corporation by 497.8% during the second quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock valued at $18,432,000 after buying an additional 2,785,549 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in LendingClub Corporation by 1,324.3% during 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 period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in LendingClub Corporation by 1,284.7% during 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in LendingClub Corporation by 142.6% during 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 period. 87.80% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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