LendingClub Corp (NYSE:LC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.21, but opened at $4.30. LendingClub shares last traded at $4.37, with a volume of 7001100 shares traded.

A number of brokerages recently commented on LC. Canaccord Genuity lowered their price objective on LendingClub from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Oppenheimer lowered their price objective on LendingClub from $7.50 to $6.25 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Credit Suisse Group lowered their price objective on LendingClub from $7.50 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Morgan Stanley lowered their price objective on LendingClub from $7.00 to $6.50 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. Finally, Maxim Group began coverage on LendingClub in a research note on Tuesday, November 7th. They set a “buy” rating and a $8.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.89.

The company has a debt-to-equity ratio of 3.52, a current ratio of 18.02 and a quick ratio of 16.90.

In other LendingClub news, Director John J. Mack purchased 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $4.28 per share, with a total value of $85,600.00. Following the completion of the purchase, the director now owns 1,513,673 shares in the company, valued at approximately $6,478,520.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas W. Casey purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $4.17 per share, with a total value of $41,700.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 88,765 shares of company stock valued at $458,573. Company insiders own 9.72% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in LendingClub during the third quarter valued at about $3,373,000. PEAK6 Investments L.P. boosted its stake in LendingClub by 91.9% during the third quarter. PEAK6 Investments L.P. now owns 152,673 shares of the credit services provider’s stock valued at $930,000 after buying an additional 73,126 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in LendingClub by 5.7% during the third quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock valued at $4,887,000 after buying an additional 43,247 shares in the last quarter. Jackson Square Partners LLC boosted its stake in LendingClub by 2.8% during the third quarter. Jackson Square Partners LLC now owns 9,883,742 shares of the credit services provider’s stock valued at $60,191,000 after buying an additional 273,650 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in LendingClub during the third quarter valued at about $804,000. 86.84% of the stock is owned by institutional investors and hedge funds.

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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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