Guggenheim lowered shares of LendingClub (NYSE:LC) from a buy rating to a neutral rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has $7.00 price target on the credit services provider’s stock.
Several other equities analysts also recently weighed in on LC. Maxim Group restated a buy rating and issued a $6.00 target price (down previously from $8.00) on shares of LendingClub in a research report on Monday, December 11th. Needham & Company LLC initiated coverage on LendingClub in a research report on Wednesday, November 1st. They issued a buy rating and a $7.00 target price on the stock. Canaccord Genuity decreased their target price on LendingClub from $7.00 to $6.00 and set a buy rating on the stock in a research report on Wednesday, November 8th. Oppenheimer restated a buy rating and issued a $5.00 target price on shares of LendingClub in a research report on Friday, December 8th. Finally, Stifel Nicolaus decreased their target price on LendingClub from $5.00 to $4.50 and set a hold rating on the stock in a research report on Friday, December 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $6.24.
LendingClub (LC) opened at $3.27 on Friday. The stock has a market capitalization of $1,360.00, a P/E ratio of -8.84 and a beta of 1.38. The company has a current ratio of 5.79, a quick ratio of 5.47 and a debt-to-equity ratio of 3.22. LendingClub has a 1 year low of $3.25 and a 1 year high of $6.56.
In related news, major shareholder Tian Qiao Chen purchased 21,927,175 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average price of $3.90 per share, with a total value of $85,515,982.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Mack purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average cost of $3.83 per share, with a total value of $191,500.00. Following the acquisition, the director now owns 1,563,673 shares of the company’s stock, valued at approximately $5,988,867.59. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 25,977,175 shares of company stock valued at $100,907,483. Insiders own 9.72% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of LendingClub in the third quarter valued at approximately $103,000. Xact Kapitalforvaltning AB acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $117,000. Phoenix Investment Adviser LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $124,000. MANA Advisors LLC acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $126,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of LendingClub in the fourth quarter valued at approximately $134,000. 85.73% of the stock is owned by hedge funds and other institutional investors.
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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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