Thomas W. Casey Sells 7,287 Shares of LendingClub Corporation (LC) Stock
LendingClub Corporation (NYSE:LC) CFO Thomas W. Casey sold 7,287 shares of LendingClub Corporation stock in a transaction that occurred on 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 sale, the chief financial officer now owns 39,758 shares of the company’s stock, valued at $241,728.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
LendingClub Corporation (NYSE:LC) opened at 6.14 on Thursday. The firm’s market capitalization is $2.53 billion. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78. The company’s 50-day moving average is $5.53 and its 200 day moving average is $5.61.
LendingClub Corporation (NYSE:LC) last posted its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The firm’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, equities analysts expect that LendingClub Corporation will post $0.04 EPS for the current fiscal year.
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A number of research firms have issued reports on LC. Vetr cut shares of LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 target price for the company. in a research note on Wednesday, August 9th. Citigroup Inc. reiterated a “neutral” rating and issued a $6.50 target price (up from $6.00) on shares of LendingClub Corporation in a research note on Thursday, August 10th. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 target price on shares of LendingClub Corporation in a research note on Thursday, August 10th. Credit Suisse Group reiterated a “neutral” rating and issued a $8.00 target price on shares of LendingClub Corporation in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $6.78.
Several hedge funds and other institutional investors have recently bought and sold shares of LC. Norges Bank purchased a new position in LendingClub Corporation during the fourth quarter valued at $291,000. Teachers Advisors LLC increased its position in LendingClub Corporation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 540,941 shares of the credit services provider’s stock valued at $2,840,000 after buying an additional 10,562 shares during the last quarter. Bank of Montreal Can increased its position in LendingClub Corporation by 37,517.7% in the first quarter. Bank of Montreal Can now owns 263,700 shares of the credit services provider’s stock valued at $1,448,000 after buying an additional 262,999 shares during the last quarter. Fox Run Management L.L.C. increased its position in LendingClub Corporation by 122.9% in the first quarter. Fox Run Management L.L.C. now owns 39,000 shares of the credit services provider’s stock valued at $214,000 after buying an additional 21,500 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in LendingClub Corporation by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock valued at $191,000 after buying an additional 31,840 shares during the last quarter. Institutional investors own 86.91% of the company’s stock.
About LendingClub Corporation
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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