LendingClub Corp (NYSE:LC) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 31,244,316 shares, an increase of 11.0% from the February 15th total of 28,142,392 shares. Based on an average daily volume of 9,132,224 shares, the short-interest ratio is presently 3.4 days. Currently, 11.3% of the company’s shares are sold short.
LendingClub (LC) opened at $3.80 on Wednesday. LendingClub has a 52 week low of $3.09 and a 52 week high of $6.56. The stock has a market capitalization of $1,600.00, a P/E ratio of -7.60 and a beta of 1.42. The company has a quick ratio of 5.47, a current ratio of 5.79 and a debt-to-equity ratio of 3.22.
LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). LendingClub had a negative return on equity of 7.10% and a negative net margin of 26.77%. The firm had revenue of $156.50 million during the quarter, compared to the consensus estimate of $157.55 million. During the same period last year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. analysts expect that LendingClub will post -0.08 EPS for the current year.
A number of large investors have recently made changes to their positions in LC. Quantbot Technologies LP bought a new stake in LendingClub during the 3rd quarter valued at $103,000. Xact Kapitalforvaltning AB bought a new stake in LendingClub during the 4th quarter valued at $117,000. Phoenix Investment Adviser LLC bought a new stake in LendingClub during the 4th quarter valued at $124,000. MANA Advisors LLC bought a new stake in LendingClub during the 4th quarter valued at $126,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in LendingClub during the 4th quarter valued at $134,000. 89.80% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on LC. Citigroup decreased their price objective on LendingClub from $4.25 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Zacks Investment Research downgraded LendingClub from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Compass Point raised LendingClub from a “sell” rating to a “neutral” rating in a research note on Friday, December 8th. Maxim Group reaffirmed a “buy” rating and set a $6.00 target price (down previously from $8.00) on shares of LendingClub in a research note on Monday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price (down previously from $7.00) on shares of LendingClub in a research note on Friday, December 8th. Two analysts have rated the stock with a sell rating, nine have assigned 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 a consensus price target of $6.24.
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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