Oppenheimer Holdings, Inc. upgraded shares of LendingClub Corporation (NYSE:LC) from a market perform rating to an outperform rating in a research note published on Thursday morning, MarketBeat reports. They currently have $7.00 price target on the credit services provider’s stock.
Several other research firms also recently weighed in on LC. UBS AG raised LendingClub Corporation from a neutral rating to a positive rating in a report on Monday, May 1st. BidaskClub downgraded LendingClub Corporation from a hold rating to a sell rating in a report on Monday, July 24th. FBR & Co reissued a market perform rating and set a $6.50 price objective on shares of LendingClub Corporation in a report on Friday, May 5th. Canaccord Genuity reissued a hold rating and set a $7.00 price objective on shares of LendingClub Corporation in a report on Friday, May 5th. Finally, Stifel Nicolaus started coverage on LendingClub Corporation in a report on Wednesday, April 19th. They set a hold rating and a $6.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. LendingClub Corporation has an average rating of Hold and an average target price of $6.51.
LendingClub Corporation (NYSE LC) traded up 0.58% during trading on Thursday, reaching $5.24. The company’s stock had a trading volume of 1,069,720 shares. The stock’s market cap is $2.12 billion. The company’s 50 day moving average price is $5.43 and its 200-day moving average price is $5.63. LendingClub Corporation has a 1-year low of $4.30 and a 1-year high of $6.78.
LendingClub Corporation (NYSE:LC) last issued its quarterly earnings results on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. The business had revenue of $124.50 million during the quarter, compared to the consensus estimate of $121.63 million. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Equities analysts forecast that LendingClub Corporation will post $0.03 earnings per share for the current fiscal year.
In other news, COO Sameer Gulati sold 8,305 shares of LendingClub Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total value of $42,189.40. Following the completion of the transaction, the chief operating officer now directly owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas W. Casey sold 5,254 shares of LendingClub Corporation stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $5.65, for a total value of $29,685.10. Following the completion of the transaction, the chief financial officer now directly owns 31,203 shares of the company’s stock, valued at $176,296.95. The disclosure for this sale can be found here. Insiders have sold a total of 463,239 shares of company stock worth $2,677,984 over the last ninety days. Company insiders own 11.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LC. GSA Capital Partners LLP acquired a new position in LendingClub Corporation during the fourth quarter valued at $166,000. Two Sigma Investments LP acquired a new position in LendingClub Corporation during the fourth quarter valued at $167,000. Bank of Montreal Can raised its position in 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 period. BNP Paribas Arbitrage SA raised its position 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 valued at $5,882,000 after buying an additional 961,141 shares during the period. Finally, Vanguard Group Inc. raised its position 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 valued at $148,795,000 after buying an additional 1,119,288 shares during the period. 90.92% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for LendingClub Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
