Analysts Set LendingClub Corp (LC) PT at $6.22

Shares of LendingClub Corp (NYSE:LC) have been assigned an average rating of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.22.

LC has been the subject of several recent research reports. Zacks Investment Research lowered shares of LendingClub from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Maxim Group restated a “buy” rating and set a $6.00 target price on shares of LendingClub in a research report on Tuesday, February 20th. Credit Suisse Group cut their target price on shares of LendingClub from $5.60 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Oppenheimer restated a “buy” rating and set a $5.00 target price on shares of LendingClub in a research report on Friday, December 8th. Finally, Guggenheim downgraded shares of LendingClub from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, February 23rd.

Shares of LC stock traded up $0.09 during midday trading on Wednesday, reaching $3.65. 3,899,184 shares of the company traded hands, compared to its average volume of 7,690,553. The company has a debt-to-equity ratio of 3.22, a current ratio of 5.79 and a quick ratio of 5.47. The company has a market capitalization of $1,486.58, a price-to-earnings ratio of -9.78 and a beta of 1.43. LendingClub has a 12 month low of $3.09 and a 12 month high of $6.56.

LendingClub (NYSE:LC) last announced its earnings results 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). The business had revenue of $156.50 million for the quarter, compared to the consensus estimate of $157.55 million. LendingClub had a negative net margin of 26.77% and a negative return on equity of 7.10%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) earnings per share. analysts predict that LendingClub will post -0.08 EPS for the current fiscal year.

In related news, Director Kenneth D. Denman bought 30,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $3.16 per share, with a total value of $94,800.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at $94,800. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John J. Mack bought 50,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $3.83 per share, for a total transaction of $191,500.00. Following the acquisition, the director now directly 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. Insiders have acquired 7,776,016 shares of company stock worth $27,761,077 in the last ninety days. Insiders own 9.72% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LC. ARK Investment Management LLC lifted its holdings in shares of LendingClub by 168.7% in the fourth quarter. ARK Investment Management LLC now owns 5,811,387 shares of the credit services provider’s stock worth $24,001,000 after buying an additional 3,648,962 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of LendingClub by 19.3% in the fourth quarter. Deutsche Bank AG now owns 18,573,804 shares of the credit services provider’s stock worth $76,708,000 after buying an additional 3,002,439 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of LendingClub by 85.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,183,823 shares of the credit services provider’s stock worth $31,569,000 after buying an additional 2,392,223 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LendingClub by 23.2% in the third quarter. Dimensional Fund Advisors LP now owns 5,942,304 shares of the credit services provider’s stock worth $36,191,000 after buying an additional 1,118,364 shares in the last quarter. Finally, HBK Investments L P purchased a new stake in LendingClub during the fourth quarter valued at $2,765,000. 89.28% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for LendingClub (NYSE:LC)

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