According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “
Other equities analysts have also issued research reports about the company. Morgan Stanley reaffirmed an equal weight rating on shares of LendingClub Corp. in a report on Wednesday, June 15th. Vetr upgraded shares of LendingClub Corp. from a buy rating to a strong-buy rating and set a $5.10 target price for the company in a research note on Tuesday, August 2nd. Pacific Crest reiterated a hold rating on shares of LendingClub Corp. in a research note on Tuesday, August 9th. BTIG Research reiterated a buy rating and set a $9.00 target price on shares of LendingClub Corp. in a research note on Monday, July 18th. Finally, Citigroup Inc. reiterated a neutral rating and set a $5.00 target price on shares of LendingClub Corp. in a research note on Tuesday, August 9th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $12.51.
LendingClub Corp. (NYSE:LC) opened at 5.54 on Wednesday. LendingClub Corp. has a 52 week low of $3.44 and a 52 week high of $15.00. The stock’s market cap is $2.17 billion. The company has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.58.
LendingClub Corp. (NYSE:LC) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.07. The firm had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $110.65 million. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. Analysts expect that LendingClub Corp. will post ($0.14) EPS for the current fiscal year.
In other LendingClub Corp. news, insider Sandeep Bhandari sold 9,771 shares of LendingClub Corp. stock in a transaction on Monday, August 29th. The shares were 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 in the company, valued at approximately $1,218,780. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sameer Gulati sold 6,105 shares of LendingClub Corp. stock in a transaction on Monday, September 26th. The shares were sold at an average price of $6.08, for a total transaction of $37,118.40. Following the completion of the transaction, the insider now owns 958,692 shares in the company, valued at approximately $5,828,847.36. The disclosure for this sale can be found here. 11.40% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised 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 last quarter. Psagot Investment House Ltd. raised 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 last quarter. Geduld E E acquired a new position in LendingClub Corp. during the second quarter valued at $108,000. Ameritas Investment Partners Inc. acquired a new position in LendingClub Corp. during the second quarter valued at $110,000. Finally, Principal Financial Group Inc. acquired a new position in LendingClub Corp. during the second quarter valued at $111,000. Institutional investors own 83.90% of the company’s stock.
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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