LendingClub Corp (NYSE:LC) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday. They presently have a $6.00 price objective on the credit services provider’s stock. Vetr‘s price objective suggests a potential upside of 3.45% from the company’s current price.

LC has been the subject of several other reports. Guggenheim upgraded LendingClub Corp from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, March 16th. Wedbush upgraded LendingClub Corp from an “underperform” rating to a “neutral” rating and raised their price target for the company from $4.50 to $5.00 in a report on Wednesday, March 22nd. Zacks Investment Research upgraded LendingClub Corp from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Tuesday, January 10th. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 price objective on shares of LendingClub Corp in a report on Tuesday, January 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corp in a report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. LendingClub Corp presently has a consensus rating of “Hold” and an average target price of $6.04.

Analyst Recommendations for LendingClub Corp (NYSE:LC)

LendingClub Corp (NYSE:LC) traded up 1.40% during mid-day trading on Thursday, hitting $5.80. 8,918,059 shares of the stock were exchanged. LendingClub Corp has a 52 week low of $3.44 and a 52 week high of $8.41. The company’s market capitalization is $2.32 billion. The stock’s 50-day moving average is $5.36 and its 200 day moving average is $5.57.

LendingClub Corp (NYSE:LC) last issued its quarterly earnings results on Tuesday, February 14th. The credit services provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. LendingClub Corp had a negative return on equity of 6.68% and a negative net margin of 21.75%. The firm earned $129.20 million during the quarter, compared to the consensus estimate of $121.84 million. During the same period last year, the company earned $0.05 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, analysts anticipate that LendingClub Corp will post $0.05 EPS for the current year.

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In other LendingClub Corp news, CFO Thomas W. Casey sold 4,942 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $5.65, for a total transaction of $27,922.30. Following the completion of the sale, the chief financial officer now directly owns 22,335 shares in the company, valued at approximately $126,192.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Sanborn sold 33,669 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $6.74, for a total value of $226,929.06. Following the sale, the chief executive officer now owns 1,977,793 shares of the company’s stock, valued at $13,330,324.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,998 shares of company stock valued at $410,173. Corporate insiders own 11.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LC. Joel Isaacson & Co. LLC increased its stake in LendingClub Corp by 43.9% in the third quarter. Joel Isaacson & Co. LLC now owns 35,563 shares of the credit services provider’s stock worth $220,000 after buying an additional 10,846 shares in the last quarter. Wells Fargo & Company MN boosted its position in LendingClub Corp by 30.8% in the third quarter. Wells Fargo & Company MN now owns 150,342 shares of the credit services provider’s stock worth $929,000 after buying an additional 35,378 shares during the last quarter. Bank of New York Mellon Corp boosted its position in LendingClub Corp by 11.9% in the third quarter. Bank of New York Mellon Corp now owns 1,246,632 shares of the credit services provider’s stock worth $7,704,000 after buying an additional 132,109 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in LendingClub Corp by 22.5% in the third quarter. UBS Asset Management Americas Inc. now owns 202,292 shares of the credit services provider’s stock worth $1,251,000 after buying an additional 37,131 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its position in LendingClub Corp by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 1,308,417 shares of the credit services provider’s stock worth $8,086,000 after buying an additional 9,730 shares during the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.

About LendingClub Corp

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.

5 Day Chart for NYSE:LC

To view Vetr’s full report, visit Vetr’s official website.

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