LendingClub Corporation (LC) PT Lowered to $6.00 at Canaccord Genuity

LendingClub Corporation (NYSE:LC) had its price target cut by Canaccord Genuity from $7.00 to $6.00 in a research report released on Wednesday. They currently have a buy rating on the credit services provider’s stock.

Several other research firms have also recently commented on LC. Vetr cut LendingClub Corporation from a strong-buy rating to a hold rating and set a $6.55 price target for the company. in a research note on Wednesday, August 9th. Zacks Investment Research cut LendingClub Corporation from a hold rating to a sell rating in a research note on Tuesday, October 10th. ValuEngine cut LendingClub Corporation from a hold rating to a sell rating in a research note on Monday, October 2nd. Citigroup Inc. restated a neutral rating and set a $6.50 price target (up previously from $6.00) on shares of LendingClub Corporation in a research note on Thursday, August 10th. Finally, Stifel Nicolaus restated a hold rating and set a $6.50 price target on shares of LendingClub Corporation in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $6.89.

Shares of LendingClub Corporation (LC) traded up $0.01 during midday trading on Wednesday, reaching $4.30. The company’s stock had a trading volume of 18,226,500 shares, compared to its average volume of 6,153,530. The company has a debt-to-equity ratio of 3.52, a current ratio of 18.02 and a quick ratio of 18.90. LendingClub Corporation has a one year low of $4.20 and a one year high of $6.78.

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In other LendingClub Corporation news, COO Sameer Gulati sold 8,351 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $5.64, for a total value of $47,099.64. Following the sale, the chief operating officer now owns 296,221 shares of the company’s stock, valued at $1,670,686.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 46,667 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $5.77, for a total value of $269,268.59. Following the completion of the sale, the chief executive officer now directly owns 970,337 shares in the company, valued at approximately $5,598,844.49. The disclosure for this sale can be found here. Insiders sold 213,116 shares of company stock worth $1,288,135 in the last three months. 11.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of LC. UBS Asset Management Americas Inc. grew its holdings in LendingClub Corporation by 24.1% in the first quarter. UBS Asset Management Americas Inc. now owns 170,708 shares of the credit services provider’s stock valued at $937,000 after purchasing an additional 33,116 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of LendingClub Corporation by 1.7% during the first quarter. Parametric Portfolio Associates LLC now owns 180,740 shares of the credit services provider’s stock valued at $992,000 after acquiring an additional 2,934 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of 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 last quarter. Teachers Advisors LLC boosted its stake in shares of LendingClub Corporation by 4.9% during the first quarter. Teachers Advisors LLC now owns 567,651 shares of the credit services provider’s stock valued at $3,116,000 after acquiring an additional 26,710 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of LendingClub Corporation by 15.4% during the first quarter. Legal & General Group Plc now owns 118,368 shares of the credit services provider’s stock valued at $649,000 after acquiring an additional 15,765 shares during the last quarter. 87.80% of the stock is currently owned by 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.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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