LendingClub Corporation (LC) Director Acquires $59,200.00 in Stock
LendingClub Corporation (NYSE:LC) Director Daniel T. Ciporin purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $5.92 per share, with a total value of $59,200.00. Following the acquisition, the director now owns 1,014,809 shares in the company, valued at approximately $6,007,669.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of LendingClub Corporation (NYSE LC) traded up 2.23% during trading on Friday, reaching $5.96. 12,698,049 shares of the company’s stock traded hands. The company’s 50-day moving average is $5.44 and its 200 day moving average is $5.62. LendingClub Corporation has a 52-week low of $4.64 and a 52-week high of $6.78. The company’s market cap is $2.45 billion.
LendingClub Corporation (NYSE:LC) last announced its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $139.60 million during the quarter, compared to analyst estimates of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. Equities analysts forecast that LendingClub Corporation will post $0.04 EPS for the current year.
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A number of brokerages have 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. Zacks Investment Research downgraded shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Vetr downgraded shares of LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective for the company. in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and issued a $6.50 price objective on shares of LendingClub Corporation in a research note on Thursday, August 10th. Finally, Wedbush set a $6.00 price objective on shares of LendingClub Corporation and gave the company a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.78.
Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of LendingClub Corporation during the fourth quarter worth $177,000. Dimensional Fund Advisors LP raised its stake in shares of LendingClub Corporation by 2,401.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,663 shares of the credit services provider’s stock worth $7,947,000 after buying an additional 1,453,152 shares during the last quarter. FMR LLC acquired a new stake in shares of LendingClub Corporation during the fourth quarter worth $407,000. Norges Bank acquired a new stake in shares of LendingClub Corporation during the fourth quarter worth $291,000. Finally, Teachers Advisors LLC raised its stake in shares of LendingClub Corporation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 540,941 shares of the credit services provider’s stock worth $2,840,000 after buying an additional 10,562 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
About LendingClub Corporation
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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