LendingClub Corporation (NYSE:LC) President Steven Allocca sold 35,378 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.09, for a total transaction of $215,452.02. Following the transaction, the president now directly owns 67,084 shares of the company’s stock, valued at approximately $408,541.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
LendingClub Corporation (NYSE:LC) traded up 0.238% during mid-day trading on Wednesday, hitting $6.305. 2,622,875 shares of the stock were exchanged. The stock’s market capitalization is $2.59 billion. LendingClub Corporation has a 12-month low of $4.64 and a 12-month high of $6.79. The firm has a 50-day moving average price of $5.77 and a 200-day moving average price of $5.61.
LendingClub Corporation (NYSE:LC) last announced its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The company had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. LendingClub Corporation’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Equities analysts predict that LendingClub Corporation will post $0.04 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of LC. Prudential Financial Inc. boosted its position in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after purchasing an additional 760 shares during the last quarter. Teacher Retirement System of Texas boosted its position in LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after purchasing an additional 5,130 shares during the last quarter. Blair William & Co. IL boosted its position in LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after purchasing an additional 2,650 shares during the last quarter. GSA Capital Partners LLP purchased a new position in LendingClub Corporation in the second quarter worth $150,000. Finally, Brighton Jones LLC purchased a new position in LendingClub Corporation in the second quarter worth $154,000. 86.91% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the stock. Vetr downgraded shares of LendingClub Corporation from a “buy” rating to a “hold” rating and set a $6.55 price objective on the stock. in a research note on Monday, September 4th. ValuEngine raised shares of LendingClub Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Wedbush set a $6.00 price objective on shares of LendingClub Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $6.50 price objective (up previously from $6.00) on shares of LendingClub Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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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