LendingClub Corporation (NYSE:LC) had its target price dropped by stock analysts at Canaccord Genuity from $7.00 to $6.00 in a research note issued on Wednesday, November 8th. The firm presently has a “buy” rating on the credit services provider’s stock. Canaccord Genuity’s price target points to a potential upside of 39.53% from the company’s previous close.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut LendingClub Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Stifel Nicolaus reissued a “hold” rating and issued a $6.50 target price on shares of LendingClub Corporation in a research report on Thursday, August 10th. Vetr lowered LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective on the stock. in a research report on Wednesday, August 9th. Wedbush set a $6.00 price objective on LendingClub Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, UBS AG raised LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. LendingClub Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.89.
LendingClub Corporation (LC) traded up $0.03 during midday trading on Wednesday, hitting $4.30. The company’s stock had a trading volume of 4,464,800 shares, compared to its average volume of 6,168,292. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52. LendingClub Corporation has a twelve month low of $4.05 and a twelve month high of $6.78.
In other news, insider Timothy Bogan sold 15,204 shares of LendingClub Corporation stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $6.09, for a total value of $92,592.36. Following the completion of the transaction, the insider now directly owns 120,946 shares of the company’s stock, valued at approximately $736,561.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 15,544 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $6.08, for a total transaction of $94,507.52. Following the transaction, the general counsel now directly owns 117,687 shares of the company’s stock, valued at $715,536.96. The disclosure for this sale can be found here. Insiders have sold a total of 213,722 shares of company stock worth $1,218,831 in the last ninety days. 11.40% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of LendingClub Corporation during the third quarter valued at approximately $3,373,000. PEAK6 Investments L.P. increased its stake in LendingClub Corporation by 91.9% in the 3rd quarter. PEAK6 Investments L.P. now owns 152,673 shares of the credit services provider’s stock valued at $930,000 after buying an additional 73,126 shares during the period. First Republic Investment Management Inc. increased its stake in LendingClub Corporation by 5.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock valued at $4,887,000 after buying an additional 43,247 shares during the period. Jackson Square Partners LLC increased its stake in LendingClub Corporation by 2.8% in the 3rd quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock valued at $60,191,000 after buying an additional 273,650 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in LendingClub Corporation in the 3rd quarter valued at approximately $804,000. Institutional investors and hedge funds own 87.91% of the company’s stock.
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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