LendingClub (NYSE:LC) Trading Up 0.7%

LendingClub Corp (NYSE:LC) shares traded up 0.7% during trading on Thursday . The company traded as high as $15.29 and last traded at $14.83, 21,405 shares changed hands during mid-day trading. A decline of 95% from the average session volume of 412,649 shares. The stock had previously closed at $14.73.

A number of research analysts recently commented on the company. BTIG Research reduced their price target on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a report on Monday, October 14th. ValuEngine raised LendingClub from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised LendingClub from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Saturday. Morgan Stanley reduced their price target on LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Maxim Group reissued a “buy” rating and issued a $23.00 price target on shares of LendingClub in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.80.

The stock has a market cap of $1.27 billion, a PE ratio of -42.17 and a beta of 1.60. The company has a debt-to-equity ratio of 2.11, a current ratio of 7.06 and a quick ratio of 5.81. The business has a fifty day moving average of $12.90 and a 200 day moving average of $9.68.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, November 5th. The credit services provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The firm had revenue of $204.90 million during the quarter, compared to the consensus estimate of $204.63 million. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. LendingClub’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts expect that LendingClub Corp will post -0.13 EPS for the current year.

In other LendingClub news, CFO Valerie Kay sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $24.53, for a total transaction of $245,300.00. Also, Director Susan C. Athey sold 6,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $15.04, for a total value of $90,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,563 shares of company stock worth $510,603. 4.20% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LC. Nikko Asset Management Americas Inc. lifted its holdings in LendingClub by 35.2% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 25,692,140 shares of the credit services provider’s stock worth $84,270,000 after buying an additional 6,690,424 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in LendingClub during the 3rd quarter worth approximately $83,981,000. Nuveen Asset Management LLC bought a new position in LendingClub during the 2nd quarter worth approximately $4,253,000. Rothschild & Co Wealth Management UK Ltd acquired a new stake in shares of LendingClub during the 2nd quarter worth approximately $1,624,000. Finally, BlackRock Inc. raised its position in shares of LendingClub by 1.8% during the 2nd quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock worth $81,126,000 after purchasing an additional 425,690 shares during the period.

About LendingClub (NYSE:LC)

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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