LendingClub (LC) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of LendingClub (NYSE:LC) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “

A number of other research analysts have also recently weighed in on the stock. Maxim Group reiterated a buy rating and set a $4.50 price objective on shares of LendingClub in a research report on Wednesday, February 20th. Wedbush set a $4.00 price objective on shares of LendingClub and gave the company a hold rating in a research report on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $4.88.



LendingClub stock opened at $3.39 on Tuesday. The firm has a market cap of $1.46 billion, a P/E ratio of -48.43 and a beta of 1.67. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27. LendingClub has a 52-week low of $2.46 and a 52-week high of $4.55.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.03). The company had revenue of $174.40 million for the quarter, compared to the consensus estimate of $170.45 million. LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. LendingClub’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, equities research analysts predict that LendingClub will post -0.04 earnings per share for the current fiscal year.

In other news, insider Valerie Kay sold 9,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $2.99, for a total value of $28,405.00. Following the transaction, the insider now directly owns 227,677 shares in the company, valued at $680,754.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bahman Koohestani sold 17,563 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $2.98, for a total transaction of $52,337.74. Following the completion of the transaction, the insider now owns 114,754 shares in the company, valued at $341,966.92. The disclosure for this sale can be found here. Insiders have sold 529,063 shares of company stock worth $1,788,388 in the last quarter. Company insiders own 4.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewFocus Financial Group LLC bought a new position in shares of LendingClub in the fourth quarter worth about $45,000. Vanguard Group Inc. grew its holdings in shares of LendingClub by 7.1% in the third quarter. Vanguard Group Inc. now owns 33,949,574 shares of the credit services provider’s stock worth $131,725,000 after purchasing an additional 2,264,051 shares during the last quarter. Karp Capital Management Corp grew its holdings in shares of LendingClub by 5.2% in the fourth quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock worth $317,000 after purchasing an additional 6,000 shares during the last quarter. United Services Automobile Association grew its holdings in shares of LendingClub by 21.3% in the fourth quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 12,474 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of LendingClub by 2.9% in the third quarter. Teachers Advisors LLC now owns 662,045 shares of the credit services provider’s stock worth $2,569,000 after purchasing an additional 18,898 shares during the last quarter. Hedge funds and other institutional investors own 87.59% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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