LendingClub Corp. (NYSE:LC) had its price objective increased by investment analysts at FBR & Co from $4.00 to $6.50 in a research report issued to clients and investors on Friday. The firm presently has a “market perform” rating on the stock. FBR & Co’s price target indicates a potential upside of 30.26% from the company’s current price.
A number of other analysts also recently weighed in on LC. BTIG Research set a $9.00 target price on LendingClub Corp. and gave the stock a “buy” rating in a research report on Thursday, September 29th. Wedbush assumed coverage on LendingClub Corp. in a research report on Monday, October 10th. They issued an “underperform” rating and a $3.75 target price for the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $5.00 target price on shares of LendingClub Corp. in a research report on Monday, August 15th. Zacks Investment Research upgraded LendingClub Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Vetr downgraded LendingClub Corp. from a “hold” rating to a “sell” rating and set a $5.36 price objective for the company. in a research report on Monday, September 12th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.68.
Shares of LendingClub Corp. (NYSE:LC) opened at 4.99 on Friday. The firm’s market cap is $1.95 billion. The stock’s 50 day moving average is $5.82 and its 200 day moving average is $5.50. LendingClub Corp. has a 12 month low of $3.44 and a 12 month high of $15.00.
LendingClub Corp. (NYSE:LC) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. LendingClub Corp. had a negative return on equity of 2.93% and a negative net margin of 14.22%. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $110.65 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts expect that LendingClub Corp. will post ($0.14) EPS for the current year.
In other news, insider Sandeep Bhandari sold 9,771 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $5.55, for a total value of $54,229.05. Following the sale, the insider now directly owns 219,600 shares of the company’s stock, valued at $1,218,780. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sameer Gulati sold 6,105 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $6.08, for a total value of $37,118.40. Following the completion of the sale, the insider now directly owns 958,692 shares in the company, valued at $5,828,847.36. The disclosure for this sale can be found here. 11.40% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in LC. River & Mercantile Asset Management LLP boosted its stake in LendingClub Corp. by 132.2% in the second quarter. River & Mercantile Asset Management LLP now owns 510,300 shares of the company’s stock worth $2,191,000 after buying an additional 290,550 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in LendingClub Corp. by 1,384.5% in the second quarter. BNP Paribas Arbitrage SA now owns 144,557 shares of the company’s stock worth $622,000 after buying an additional 134,819 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in LendingClub Corp. during the first quarter worth approximately $535,000. Bayesian Capital Management LP boosted its stake in LendingClub Corp. by 41.3% in the first quarter. Bayesian Capital Management LP now owns 22,907 shares of the company’s stock worth $190,000 after buying an additional 6,700 shares in the last quarter. Finally, Integre Asset Management LLC boosted its stake in LendingClub Corp. by 132.0% in the first quarter. Integre Asset Management LLC now owns 188,690 shares of the company’s stock worth $1,566,000 after buying an additional 107,373 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.
LendingClub Corp. Company Profile
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.
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