LendingClub Corporation (NYSE:LC)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Tuesday. They presently have a $5.00 target price on the credit services provider’s stock. Wedbush’s price target would indicate a potential downside of 8.42% from the company’s previous close.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of LendingClub Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. CIBC upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating and set a $7.00 target price on the stock in a report on Thursday, August 3rd. UBS AG upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.51.

LendingClub Corporation (NYSE LC) opened at 5.46 on Tuesday. LendingClub Corporation has a 52-week low of $4.30 and a 52-week high of $6.78. The stock’s market capitalization is $2.21 billion. The stock has a 50 day moving average of $5.43 and a 200 day moving average of $5.63.

LendingClub Corporation (NYSE:LC) last announced its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $139.60 million for the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. LendingClub Corporation’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. On average, equities research analysts forecast that LendingClub Corporation will post $0.03 EPS for the current year.

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In related news, Director Simon Williams sold 80,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $5.98, for a total value of $478,400.00. Following the completion of the transaction, the director now owns 161,053 shares of the company’s stock, valued at $963,096.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Sameer Gulati sold 8,305 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total value of $42,189.40. Following the completion of the transaction, the chief operating officer now directly owns 265,657 shares of the company’s stock, valued at approximately $1,349,537.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 463,239 shares of company stock valued at $2,677,984. 11.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in LendingClub Corporation by 5.4% in the second quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock worth $126,000 after buying an additional 1,170 shares in the last quarter. Royce & Associates LP boosted its stake in LendingClub Corporation by 8.9% in the second quarter. Royce & Associates LP now owns 565,365 shares of the credit services provider’s stock valued at $3,115,000 after buying an additional 46,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in LendingClub Corporation by 1,284.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,791,600 shares of the credit services provider’s stock valued at $15,382,000 after buying an additional 2,590,000 shares during the period. Blair William & Co. IL boosted its stake in LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after buying an additional 2,650 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its stake in LendingClub Corporation by 1,324.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,908,500 shares of the credit services provider’s stock valued at $16,026,000 after buying an additional 2,704,300 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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