LendingClub Corp (LC) Major Shareholder Tian Qiao Chen Purchases 4,000,000 Shares
LendingClub Corp (NYSE:LC) major shareholder Tian Qiao Chen purchased 4,000,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were acquired at an average price of $3.80 per share, for a total transaction of $15,200,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
LendingClub Corp (LC) traded up $0.38 during trading on Monday, reaching $3.89. 54,734,269 shares of the company traded hands, compared to its average volume of 6,696,333. LendingClub Corp has a 1-year low of $3.29 and a 1-year high of $6.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Oppenheimer decreased their price target on shares of LendingClub from $7.50 to $6.25 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. ValuEngine downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Compass Point raised shares of LendingClub from a “sell” rating to a “neutral” rating in a research note on Friday. Finally, Canaccord Genuity reduced their price objective on shares of LendingClub from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. LendingClub currently has an average rating of “Hold” and an average price target of $6.54.
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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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