LendingClub Corporation (LC) Rating Lowered to Sell at ValuEngine
LendingClub Corporation (NYSE:LC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Vetr lowered shares of LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective for the company. in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $6.50 price objective on shares of LendingClub Corporation in a research note on Thursday, August 10th. Wedbush set a $6.00 price objective on shares of LendingClub Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. Finally, UBS AG upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.78.
Shares of LendingClub Corporation (LC) opened at 6.42 on Monday. The company’s 50-day moving average is $6.10 and its 200-day moving average is $5.70. The stock’s market capitalization is $2.64 billion. LendingClub Corporation has a 12 month low of $4.64 and a 12 month high of $6.78.
LendingClub Corporation (NYSE:LC) last posted its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. Equities research analysts expect that LendingClub Corporation will post $0.04 earnings per share for the current fiscal year.
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In other news, CFO Thomas W. Casey sold 7,287 shares of the company’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 $44,304.96. Following the completion of the transaction, the chief financial officer now owns 39,758 shares of the company’s stock, valued at $241,728.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 46,667 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $5.77, for a total transaction of $269,268.59. Following the transaction, the chief executive officer now directly owns 970,337 shares of the company’s stock, valued at approximately $5,598,844.49. The disclosure for this sale can be found here. Insiders sold 188,070 shares of company stock valued at $1,120,725 over the last three months. 11.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its position in LendingClub Corporation by 8.9% during the second quarter. Royce & Associates LP now owns 565,365 shares of the credit services provider’s stock worth $3,115,000 after buying an additional 46,000 shares in the last quarter. Vanguard Group Inc. increased its stake in LendingClub Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock valued at $148,795,000 after acquiring an additional 1,119,288 shares during the period. JPMorgan Chase & Co. raised its holdings in LendingClub Corporation by 497.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock valued at $18,432,000 after acquiring an additional 2,785,549 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in LendingClub Corporation by 1,284.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock valued at $15,382,000 after acquiring an additional 2,590,000 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in LendingClub Corporation in the 1st quarter valued at approximately $321,000. Institutional investors and hedge funds own 86.95% 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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