LendingClub (LC) Stock Rating Reaffirmed by Oppenheimer
Oppenheimer restated their buy rating on shares of LendingClub (NYSE:LC) in a research note released on Friday morning. They currently have a $5.00 price objective on the credit services provider’s stock.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of LendingClub from a sell rating to a strong sell rating in a report on Saturday, October 21st. Vetr downgraded shares of LendingClub from a buy rating to a hold rating and set a $6.55 target price for the company. in a report on Monday, September 4th. Zacks Investment Research downgraded shares of LendingClub from a hold rating to a sell rating in a report on Tuesday, October 10th. Maxim Group initiated coverage on shares of LendingClub in a report on Tuesday, November 7th. They issued a buy rating and a $8.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of LendingClub in a report on Wednesday, November 1st. They issued a buy rating and a $7.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $6.54.
Shares of LendingClub (LC) opened at $3.89 on Friday. LendingClub has a twelve month low of $3.29 and a twelve month high of $6.78. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52.
In other news, COO Sameer Gulati sold 8,141 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $6.02, for a total transaction of $49,008.82. Following the transaction, the chief operating officer now directly owns 288,637 shares of the company’s stock, valued at $1,737,594.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Tian Qiao Chen bought 4,000,000 shares of LendingClub stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $15,200,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 4,030,000 shares of company stock valued at $15,327,300 and have sold 88,765 shares valued at $458,573. 9.72% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of LendingClub during the third quarter worth $103,000. Prudential Financial Inc. lifted its position in shares of LendingClub by 5.4% during the second quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 1,170 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of LendingClub by 27.4% during the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after purchasing an additional 5,130 shares in the last quarter. Blair William & Co. IL raised its holdings in LendingClub by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after acquiring an additional 2,650 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in LendingClub in the second quarter valued at $150,000. 86.84% of the stock is currently 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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