LendingClub Corp (LC) Rating Lowered to Hold at Vetr Inc.
LendingClub Corp (NYSE:LC) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Thursday. They currently have a $6.00 price objective on the credit services provider’s stock. Vetr‘s price target points to a potential upside of 3.45% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Guggenheim upgraded shares of LendingClub Corp from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, March 16th. BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of LendingClub Corp in a research note on Thursday, February 16th. Zacks Investment Research upgraded shares of LendingClub Corp from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Tuesday, January 10th. Stifel Nicolaus started coverage on shares of LendingClub Corp in a research note on Wednesday. They issued a “hold” rating and a $6.00 price objective for the company. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $7.00 price objective on shares of LendingClub Corp in a research note on Tuesday, January 3rd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. LendingClub Corp presently has a consensus rating of “Hold” and a consensus target price of $6.04.
LendingClub Corp (NYSE:LC) traded up 1.40% on Thursday, reaching $5.80. 8,918,059 shares of the company were exchanged. The stock has a 50-day moving average price of $5.36 and a 200 day moving average price of $5.57. LendingClub Corp has a 52 week low of $3.44 and a 52 week high of $8.41. The stock’s market capitalization is $2.32 billion.
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LendingClub Corp (NYSE:LC) last announced its quarterly earnings data on Tuesday, February 14th. The credit services provider reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. LendingClub Corp had a negative net margin of 21.75% and a negative return on equity of 6.68%. The firm earned $129.20 million during the quarter, compared to analysts’ expectations of $121.84 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that LendingClub Corp will post $0.05 earnings per share for the current year.
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In other news, COO Sameer Gulati sold 6,921 shares of LendingClub Corp stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $6.07, for a total transaction of $42,010.47. Following the completion of the sale, the chief operating officer now directly owns 934,260 shares in the company, valued at $5,670,958.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas W. Casey sold 4,942 shares of LendingClub Corp stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $5.65, for a total transaction of $27,922.30. Following the sale, the chief financial officer now owns 22,335 shares of the company’s stock, valued at $126,192.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,998 shares of company stock valued at $410,173. Insiders own 11.40% of the company’s stock.
Several large investors have recently modified their holdings of LC. Capstone Investment Advisors LLC purchased a new stake in shares of LendingClub Corp during the fourth quarter worth approximately $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of LendingClub Corp during the fourth quarter worth approximately $158,000. GSA Capital Partners LLP purchased a new stake in shares of LendingClub Corp during the fourth quarter worth approximately $166,000. Two Sigma Investments LP purchased a new stake in shares of LendingClub Corp during the fourth quarter worth approximately $167,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of LendingClub Corp during the fourth quarter worth approximately $177,000. Institutional investors and hedge funds own 80.27% of the company’s stock.
About LendingClub Corp
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.
To view Vetr’s full report, visit Vetr’s official website.
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