LendingClub (NYSE:LC) Reaches New 1-Year Low at $6.63

LendingClub Co. (NYSE:LC – Get Rating) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.63 and last traded at $6.88, with a volume of 533998 shares changing hands. The stock had previously closed at $7.02.

Analysts Set New Price Targets

Several analysts have issued reports on LC shares. Maxim Group cut their target price on shares of LendingClub from $20.00 to $15.00 in a research note on Tuesday, January 31st. Janney Montgomery Scott downgraded shares of LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday, January 26th. Finally, StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Tuesday.

LendingClub Price Performance

The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $706.57 million, a price-to-earnings ratio of 2.41 and a beta of 1.96. The stock’s 50 day moving average price is $9.36 and its two-hundred day moving average price is $10.27.

LendingClub (NYSE:LC – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The credit services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). LendingClub had a return on equity of 13.75% and a net margin of 24.40%. The company had revenue of $262.70 million during the quarter, compared to analyst estimates of $258.37 million. During the same period last year, the company posted $0.80 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that LendingClub Co. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On LendingClub

A number of hedge funds have recently modified their holdings of LC. Lazard Asset Management LLC acquired a new position in shares of LendingClub in the first quarter worth $30,000. Belpointe Asset Management LLC bought a new stake in LendingClub in the fourth quarter worth $31,000. PNC Financial Services Group Inc. boosted its holdings in LendingClub by 367.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares in the last quarter. Lansing Street Advisors bought a new stake in LendingClub in the fourth quarter worth $43,000. Finally, Point72 Middle East FZE bought a new stake in LendingClub in the fourth quarter worth $54,000. 81.11% of the stock is owned by institutional investors and hedge funds.

About LendingClub

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LendingClub Corp. engages in an online marketplace that facilitates loans to borrowers and investments. It operates through the LendingClub Bank and LendingClub Corporation (Parent Only) segments. The LendingClub Bank segment offers a full complement of financial products and solutions, including loans, leases and deposits.