LendingClub (NYSE:LC) Trading Down 3.2%

LendingClub Co. (NYSE:LC)’s stock price fell 3.2% during mid-day trading on Monday . The stock traded as low as $7.83 and last traded at $7.84. 335,762 shares were traded during trading, a decline of 76% from the average session volume of 1,403,990 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

LC has been the topic of several research analyst reports. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of LendingClub in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and a consensus price target of $11.30.

LendingClub Stock Performance

The firm has a fifty day simple moving average of $8.20 and a 200 day simple moving average of $7.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $867.85 million, a price-to-earnings ratio of 22.50 and a beta of 1.98.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The business had revenue of $185.60 million for the quarter, compared to analyst estimates of $182.13 million. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The firm’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts expect that LendingClub Co. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LendingClub

Several large investors have recently added to or reduced their stakes in LC. Vanguard Group Inc. grew its stake in LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after buying an additional 336,827 shares during the last quarter. Wellington Management Group LLP grew its position in LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in LendingClub during the 4th quarter worth approximately $337,000. G2 Investment Partners Management LLC acquired a new stake in LendingClub during the 4th quarter valued at $1,758,000. Finally, K2 Principal Fund L.P. bought a new position in LendingClub in the 4th quarter valued at $1,017,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.