Stifel Nicolaus Reiterates “Hold” Rating for LendingClub Corporation (NYSE:LC)

LendingClub Corporation (NYSE:LC)‘s stock had its “hold” rating reissued by research analysts at Stifel Nicolaus in a note issued to investors on Thursday. They presently have a $6.50 price objective on the credit services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 6.91% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. UBS AG raised shares of LendingClub Corporation from a “neutral” rating to a “positive” rating in a report on Monday, May 1st. Canaccord Genuity reissued a “hold” rating and set a $7.00 price target on shares of LendingClub Corporation in a report on Thursday. Finally, Vetr raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.62.

LendingClub Corporation (LC) opened at 6.08 on Thursday. The stock’s market cap is $2.46 billion. The firm’s 50-day moving average is $5.41 and its 200-day moving average is $5.62. LendingClub Corporation has a 12 month low of $4.64 and a 12 month high of $6.78.

LendingClub Corporation (NYSE:LC) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.99%. The firm’s revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, equities analysts forecast that LendingClub Corporation will post $0.05 earnings per share for the current fiscal year.

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In related news, COO Sameer Gulati sold 125,555 shares of LendingClub Corporation stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $5.64, for a total transaction of $708,130.20. Following the sale, the chief operating officer now directly owns 121,898 shares in the company, valued at $687,504.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas W. Casey sold 5,254 shares of LendingClub Corporation stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $5.65, for a total transaction of $29,685.10. Following the sale, the chief financial officer now owns 31,203 shares in the company, valued at $176,296.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,239 shares of company stock worth $2,199,584. Company insiders own 11.40% of the company’s stock.

Large investors have recently modified their holdings of the company. ING Groep NV acquired a new stake in shares of LendingClub Corporation during the first quarter valued at approximately $578,000. Nikko Asset Management Americas Inc. boosted its stake in shares of LendingClub Corporation by 87.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 204,200 shares of the credit services provider’s stock valued at $1,121,000 after buying an additional 95,200 shares during the period. Malaga Cove Capital LLC boosted its stake in shares of LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of LendingClub Corporation during the first quarter valued at approximately $1,696,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of 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 period. Hedge funds and other institutional investors own 90.92% 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.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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