LendingClub Corp (LC) Expected to Post Quarterly Sales of $157.21 Million

Wall Street brokerages predict that LendingClub Corp (NYSE:LC) will announce sales of $157.21 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LendingClub’s earnings, with estimates ranging from $155.00 million to $159.04 million. LendingClub posted sales of $129.20 million in the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 13th.

On average, analysts expect that LendingClub will report full-year sales of $157.21 million for the current financial year, with estimates ranging from $573.00 million to $577.13 million. For the next fiscal year, analysts expect that the company will report sales of $687.37 million per share, with estimates ranging from $680.00 million to $704.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow LendingClub.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, November 7th. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. LendingClub had a negative net margin of 17.19% and a negative return on equity of 9.06%.

A number of analysts recently issued reports on LC shares. Canaccord Genuity restated a “hold” rating and set a $7.00 target price on shares of LendingClub in a research report on Monday, November 6th. Credit Suisse Group decreased their target price on shares of LendingClub from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. BidaskClub lowered shares of LendingClub from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Oppenheimer decreased their target price on shares of LendingClub from $7.50 to $6.25 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Finally, Zacks Investment Research lowered shares of LendingClub from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. LendingClub currently has an average rating of “Hold” and an average target price of $6.54.

In other LendingClub news, major shareholder Tian Qiao Chen bought 21,927,175 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were acquired at an average price of $3.90 per share, with a total value of $85,515,982.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Sameer Gulati sold 8,351 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $5.64, for a total transaction of $47,099.64. Following the completion of the transaction, the chief operating officer now directly owns 296,221 shares in the company, valued at approximately $1,670,686.44. The disclosure for this sale can be found here. In the last quarter, insiders acquired 25,957,175 shares of company stock worth $100,843,283. 9.72% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of LendingClub in the 3rd quarter valued at $103,000. Prudential Financial Inc. raised its stake in shares of LendingClub by 5.4% in the 2nd quarter. Prudential Financial Inc. now owns 22,850 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 1,170 shares during the period. GSA Capital Partners LLP purchased a new position in shares of LendingClub in the 2nd quarter valued at $150,000. Phoenix Investment Adviser LLC purchased a new position in shares of LendingClub in the 4th quarter valued at $124,000. Finally, Advisor Group Inc. raised its stake in shares of LendingClub by 45.9% in the 2nd quarter. Advisor Group Inc. now owns 31,142 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 9,802 shares during the period. 86.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of LendingClub (LC) traded down $0.13 during midday trading on Friday, reaching $4.02. 8,531,964 shares of the company were exchanged, compared to its average volume of 5,903,740. LendingClub has a 1 year low of $3.29 and a 1 year high of $6.78. The firm has a market capitalization of $1,721.71, a price-to-earnings ratio of -17.48 and a beta of 1.60. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02.

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LendingClub 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.

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