Needham & Company LLC reaffirmed their buy rating on shares of LendingClub (NYSE:LC) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a $6.00 price objective on the credit services provider’s stock, down from their previous price objective of $7.00.
LC has been the topic of several other research reports. Zacks Investment Research upgraded LendingClub from a sell rating to a hold rating in a research note on Wednesday, October 18th. Oppenheimer cut their price target on LendingClub from $7.50 to $6.25 and set an outperform rating on the stock in a research note on Wednesday, November 8th. ValuEngine lowered LendingClub from a hold rating to a sell rating in a research note on Monday, August 14th. Compass Point upgraded LendingClub from a sell rating to a neutral rating in a research note on Friday. Finally, Stifel Nicolaus restated a hold rating and set a $6.50 price target on shares of LendingClub 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. The company currently has a consensus rating of Hold and an average price target of $6.54.
LendingClub (NYSE LC) opened at $3.51 on Friday. The company has a current ratio of 18.02, a quick ratio of 16.90 and a debt-to-equity ratio of 3.52. LendingClub has a 52 week low of $3.29 and a 52 week high of $6.78.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in LendingClub in the third quarter worth about $3,373,000. PEAK6 Investments L.P. boosted its holdings in LendingClub by 91.9% in the third quarter. PEAK6 Investments L.P. now owns 152,673 shares of the credit services provider’s stock worth $930,000 after acquiring an additional 73,126 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in LendingClub by 5.7% in the third quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock worth $4,887,000 after acquiring an additional 43,247 shares in the last quarter. Jackson Square Partners LLC boosted its holdings in LendingClub by 2.8% in the third quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock worth $60,191,000 after acquiring an additional 273,650 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in LendingClub in the third quarter worth about $804,000. 86.84% of the stock is owned by institutional investors and hedge funds.
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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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