Maxim Group reiterated their buy rating on shares of LendingClub (NYSE:LC) in a research report report published on Tuesday, February 20th. Maxim Group currently has a $6.00 price target on the credit services provider’s stock.
“LC reports 4Q17 earnings after the close on Tuesday, February 20th. We expect results to be in the range of consensus (adjusted EBITDA of $17.8M) and our estimate (adjusted EBITDA of $18.5M), which would be consistent with management guidance delivered at LC’s Investor Day on December 7, 2017.”,” Maxim Group’s analyst wrote.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of LendingClub from a hold rating to a strong sell rating in a research note on Wednesday, January 10th. Oppenheimer reaffirmed a buy rating and set a $5.00 price objective on shares of LendingClub in a research report on Friday, December 8th. Compass Point raised shares of LendingClub from a sell rating to a neutral rating in a research report on Friday, December 8th. Needham & Company LLC began coverage on shares of LendingClub in a research report on Wednesday, November 1st. They set a buy rating and a $7.00 price objective for the company. Finally, Credit Suisse Group reduced their price objective on shares of LendingClub from $7.50 to $7.00 and set a neutral rating for the company in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. LendingClub currently has a consensus rating of Hold and a consensus target price of $6.24.
LendingClub (NYSE:LC) last released its earnings results on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). LendingClub had a negative net margin of 26.77% and a negative return on equity of 7.10%. The firm had revenue of $156.50 million during the quarter, compared to the consensus estimate of $157.55 million. During the same period in the prior year, the business posted ($0.02) earnings per share. LendingClub’s quarterly revenue was up 19.9% compared to the same quarter last year. sell-side analysts forecast that LendingClub will post -0.08 earnings per share for the current year.
In related news, Director John J. Mack bought 50,000 shares of LendingClub stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average cost of $3.83 per share, for a total transaction of $191,500.00. Following the completion of the acquisition, the director now directly owns 1,563,673 shares of the company’s stock, valued at approximately $5,988,867.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tian Qiao Chen bought 7,696,016 shares of LendingClub stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average price of $3.57 per share, for a total transaction of $27,474,777.12. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 7,776,016 shares of company stock valued at $27,761,077. 9.72% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in LendingClub in the third quarter valued at approximately $103,000. Xact Kapitalforvaltning AB acquired a new position in LendingClub in the fourth quarter valued at approximately $117,000. Phoenix Investment Adviser LLC acquired a new position in LendingClub in the fourth quarter valued at approximately $124,000. MANA Advisors LLC acquired a new position in LendingClub in the fourth quarter valued at approximately $126,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in LendingClub in the fourth quarter valued at approximately $134,000. 89.80% of the stock is currently owned by hedge funds and other institutional investors.
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LendingClub 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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