LendingClub Corporation (NYSE:LC) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They currently have a $6.55 price objective on the credit services provider’s stock. Vetr‘s price objective would indicate a potential upside of 10.46% from the stock’s previous close.

Several other research analysts also recently weighed in on LC. UBS AG raised shares of LendingClub Corporation from a “neutral” rating to a “positive” rating in a report on Monday, May 1st. Citigroup Inc. reissued a “neutral” rating and set a $6.50 price objective (up previously from $6.00) on shares of LendingClub Corporation in a report on Thursday, August 10th. BidaskClub raised shares of LendingClub Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. Canaccord Genuity reissued a “hold” rating and set a $7.00 price objective on shares of LendingClub Corporation in a report on Thursday, August 10th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $8.00 price objective on shares of LendingClub Corporation in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.78.

Shares of LendingClub Corporation (NYSE LC) traded up 1.72% during trading on Wednesday, reaching $5.93. The company’s stock had a trading volume of 5,279,252 shares. LendingClub Corporation has a one year low of $4.64 and a one year high of $6.78. The company’s market capitalization is $2.44 billion. The firm’s 50-day moving average price is $5.44 and its 200-day moving average price is $5.62.

LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. LendingClub Corporation’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. On average, equities analysts anticipate that LendingClub Corporation will post $0.04 earnings per share for the current year.

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In other news, CEO Scott Sanborn sold 46,667 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $5.77, for a total transaction of $269,268.59. Following the transaction, the chief executive officer now directly owns 970,337 shares in the company, valued at $5,598,844.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Sameer Gulati sold 8,305 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total transaction of $42,189.40. Following the transaction, the chief operating officer now owns 265,657 shares in the company, valued at $1,349,537.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 329,846 shares of company stock worth $1,882,204. Corporate insiders own 11.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC increased its position in LendingClub Corporation by 336.6% in the second quarter. Verition Fund Management LLC now owns 75,089 shares of the credit services provider’s stock worth $414,000 after buying an additional 57,889 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in LendingClub Corporation by 914.4% in the second quarter. Cubist Systematic Strategies LLC now owns 57,818 shares of the credit services provider’s stock worth $319,000 after buying an additional 52,118 shares in the last quarter. State Street Corp increased its position in LendingClub Corporation by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock worth $35,602,000 after buying an additional 323,373 shares in the last quarter. Fred Alger Management Inc. increased its position in LendingClub Corporation by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock worth $67,981,000 after buying an additional 681,192 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in LendingClub Corporation during the second quarter worth about $398,000. Hedge funds and other institutional investors own 91.72% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

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