LC has been the topic of several other reports. Morgan Stanley reaffirmed an equal weight rating on shares of LendingClub Corp. in a research report on Monday, September 12th. Vetr raised LendingClub Corp. from a strong sell rating to a sell rating and set a $4.91 price objective on the stock in a research report on Thursday, September 1st. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $4.30 price objective (down from $4.40) on shares of LendingClub Corp. in a research report on Tuesday, June 21st. Oppenheimer Holdings Inc. initiated coverage on LendingClub Corp. in a research report on Thursday, August 4th. They set a market perform rating on the stock. Finally, BTIG Research set a $9.00 price objective on LendingClub Corp. and gave the company a buy rating in a research report on Thursday, September 29th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $12.65.
LendingClub Corp. (NYSE:LC) opened at 5.50 on Monday. The stock’s 50 day moving average price is $5.84 and its 200 day moving average price is $5.58. LendingClub Corp. has a one year low of $3.44 and a one year high of $15.00. The stock’s market cap is $2.15 billion.
LendingClub Corp. (NYSE:LC) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.07. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $110.65 million. During the same period last year, the business earned $0.03 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts predict that LendingClub Corp. will post ($0.14) earnings per share for the current fiscal year.
In other news, insider Sandeep Bhandari sold 9,771 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.55, for a total value of $54,229.05. Following the transaction, the insider now owns 219,600 shares of the company’s stock, valued at $1,218,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sameer Gulati sold 5,489 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $4.60, for a total value of $25,249.40. Following the completion of the transaction, the chief operating officer now directly owns 970,623 shares in the company, valued at approximately $4,464,865.80. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of LC. Ameriprise Financial Inc. increased its position in LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock valued at $100,000 after buying an additional 6,205 shares during the period. Psagot Investment House Ltd. increased its position in LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock valued at $103,000 after buying an additional 15,000 shares during the period. Geduld E E bought a new position in LendingClub Corp. during the second quarter valued at approximately $108,000. Ameritas Investment Partners Inc. bought a new position in LendingClub Corp. during the second quarter valued at approximately $110,000. Finally, Principal Financial Group Inc. bought a new position in LendingClub Corp. during the second quarter valued at approximately $111,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
About LendingClub Corp.
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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