LendingClub (NYSE:LC) Trading 10.4% Higher

LendingClub Corp (NYSE:LC)’s stock price traded up 10.4% on Tuesday . The company traded as high as $9.10 and last traded at $8.72, 656,526 shares traded hands during mid-day trading. A decline of 18% from the average session volume of 805,227 shares. The stock had previously closed at $7.90.

A number of analysts have recently weighed in on the company. Maxim Group lowered their target price on LendingClub from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Zacks Investment Research cut LendingClub from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $20.00.

The stock has a 50-day moving average of $11.01 and a 200-day moving average of $12.49. The firm has a market cap of $702.40 million, a price-to-earnings ratio of -25.16 and a beta of 1.36. The company has a debt-to-equity ratio of 1.98, a quick ratio of 5.39 and a current ratio of 7.79.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, February 18th. The credit services provider reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. LendingClub had a positive return on equity of 0.25% and a negative net margin of 4.05%. The firm had revenue of $188.50 million for the quarter, compared to analyst estimates of $198.84 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that LendingClub Corp will post 0.3 EPS for the current fiscal year.

In other news, CFO Thomas W. Casey purchased 5,000 shares of LendingClub stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average cost of $10.11 per share, for a total transaction of $50,550.00. Following the purchase, the chief financial officer now directly owns 94,777 shares of the company’s stock, valued at approximately $958,195.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,700 shares of company stock valued at $65,132 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LC. Tower Research Capital LLC TRC bought a new stake in shares of LendingClub during the 3rd quarter valued at $33,000. Public Employees Retirement System of Ohio bought a new stake in shares of LendingClub during the 3rd quarter valued at $98,000. Nomura Holdings Inc. bought a new stake in shares of LendingClub during the 3rd quarter valued at $28,181,000. Assenagon Asset Management S.A. lifted its position in shares of LendingClub by 267.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 577,114 shares of the credit services provider’s stock valued at $7,283,000 after acquiring an additional 419,936 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its position in shares of LendingClub by 6.8% during the 4th quarter. Joel Isaacson & Co. LLC now owns 39,328 shares of the credit services provider’s stock valued at $496,000 after acquiring an additional 2,517 shares during the period. Institutional investors and hedge funds own 85.51% of the company’s stock.

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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