LendingClub Corporation (NYSE:LC) General Counsel Russell S. Elmer sold 15,544 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $6.08, for a total value of $94,507.52. Following the completion of the transaction, the general counsel now owns 117,687 shares in the company, valued at approximately $715,536.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of LendingClub Corporation (NYSE:LC) remained flat at $6.29 during midday trading on Wednesday. 2,900,596 shares of the company were exchanged. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The stock has a 50-day moving average of $5.77 and a 200-day moving average of $5.61. The stock’s market capitalization is $2.59 billion.
LendingClub Corporation (NYSE:LC) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The firm had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, analysts predict that LendingClub Corporation will post $0.04 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. increased its stake in LendingClub Corporation by 3.6% during the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after acquiring an additional 760 shares during the period. Teacher Retirement System of Texas grew its stake in shares of LendingClub Corporation by 27.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after purchasing an additional 5,130 shares during the period. Blair William & Co. IL grew its stake in shares of LendingClub Corporation by 11.3% in the 2nd quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after purchasing an additional 2,650 shares during the period. GSA Capital Partners LLP bought a new stake in shares of LendingClub Corporation in the 2nd quarter valued at approximately $150,000. Finally, Brighton Jones LLC bought a new stake in shares of LendingClub Corporation in the 2nd quarter valued at approximately $154,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.
Several research analysts have recently commented on LC shares. ValuEngine upgraded LendingClub Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Vetr downgraded LendingClub Corporation from a “buy” rating to a “hold” rating and set a $6.55 price objective for the company. in a research report on Monday, September 4th. CIBC raised LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub downgraded LendingClub Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.78.
LendingClub Corporation Company Profile
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.
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