LendingClub Corp (NYSE:LC) Receives Average Recommendation of “Buy” from Brokerages

LendingClub Corp (NYSE:LC) has earned an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $22.00.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Thursday. BTIG Research decreased their target price on shares of LendingClub from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. ValuEngine raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Maxim Group reaffirmed a “buy” rating and set a $23.00 target price on shares of LendingClub in a research note on Thursday, November 7th.

In other LendingClub news, insider Timothy Bogan sold 10,463 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.34, for a total transaction of $150,039.42. Following the sale, the insider now owns 59,541 shares of the company’s stock, valued at $853,817.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Valerie Kay sold 1,900 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $14.54, for a total transaction of $27,626.00. Following the sale, the insider now directly owns 53,565 shares in the company, valued at approximately $778,835.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,463 shares of company stock worth $447,989. Insiders own 4.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in shares of LendingClub in the third quarter worth $33,000. SG Americas Securities LLC grew its stake in shares of LendingClub by 1,312.2% in the third quarter. SG Americas Securities LLC now owns 164,158 shares of the credit services provider’s stock worth $2,147,000 after purchasing an additional 152,534 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of LendingClub in the third quarter worth $83,981,000. Brighton Jones LLC bought a new stake in shares of LendingClub in the third quarter worth $930,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of LendingClub in the third quarter worth $2,056,000.

Shares of NYSE:LC opened at $13.04 on Thursday. The company’s 50 day simple moving average is $12.85 and its 200 day simple moving average is $10.26. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -37.26 and a beta of 1.60. The company has a debt-to-equity ratio of 1.97, a current ratio of 5.93 and a quick ratio of 4.20. LendingClub has a 1 year low of $10.89 and a 1 year high of $18.85.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $204.90 million for the quarter, compared to analysts’ expectations of $204.63 million. LendingClub had a negative net margin of 5.91% and a negative return on equity of 1.02%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. As a group, analysts anticipate that LendingClub will post -0.04 EPS for the current fiscal year.

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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