Shares of LendingClub Corp. (NYSE:LC) fell 4.5% on Monday . The company traded as low as $6.13 and last traded at $6.14, with a volume of 5,679,898 shares traded. The stock had previously closed at $6.43.

A number of research firms have recently weighed in on LC. Vetr downgraded shares of LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 target price on the stock. in a research report on Monday, September 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of LendingClub Corp. in a research report on Monday, September 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $5.00 price objective on shares of LendingClub Corp. in a research report on Monday, August 15th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $5.00 price objective (up from $4.70) on shares of LendingClub Corp. in a research report on Thursday, August 11th. Finally, Zacks Investment Research downgraded shares of LendingClub Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. LendingClub Corp. has a consensus rating of “Hold” and a consensus price target of $13.03.

The stock’s market cap is $2.42 billion. The company has a 50 day moving average price of $5.20 and a 200-day moving average price of $5.95.

LendingClub Corp. (NYSE:LC) last issued its earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.07. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The firm earned $102.40 million during the quarter, compared to analysts’ expectations of $110.65 million. During the same quarter last year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that LendingClub Corp. will post ($0.15) earnings per share for the current year.

In other LendingClub Corp. news, COO Sameer Gulati sold 8,072 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $4.29, for a total value of $34,628.88. Following the completion of the sale, the chief operating officer now owns 975,561 shares of the company’s stock, valued at $4,185,156.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sandeep Bhandari sold 9,771 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.55, for a total value of $54,229.05. Following the completion of the sale, the insider now directly owns 219,600 shares of the company’s stock, valued at approximately $1,218,780. The disclosure for this sale can be found here. 11.40% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in LC. SHANDA ASSET MANAGEMENT HOLDINGS Ltd boosted its stake in shares of LendingClub Corp. by 1,383.7% in the second quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 57,739,270 shares of the company’s stock worth $248,279,000 after buying an additional 53,847,715 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of LendingClub Corp. by 727.6% in the second quarter. BlackRock Fund Advisors now owns 8,206,163 shares of the company’s stock worth $35,287,000 after buying an additional 7,214,645 shares in the last quarter. State Street Corp boosted its stake in shares of LendingClub Corp. by 379.0% in the second quarter. State Street Corp now owns 5,469,018 shares of the company’s stock worth $23,519,000 after buying an additional 4,327,146 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of LendingClub Corp. by 97.1% in the first quarter. Wellington Management Group LLP now owns 7,549,341 shares of the company’s stock worth $62,659,000 after buying an additional 3,719,295 shares in the last quarter. Finally, Passport Capital LLC bought a new stake in shares of LendingClub Corp. during the second quarter worth $13,011,000. 83.89% of the stock is owned by institutional investors.

About LendingClub Corp.

LendingClub Corporation (Lending Club) 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 is only available on a limited basis to large institutional investors.

5 Day Chart for NYSE:LC

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