LendingClub Co. (NYSE:LC) Expected to Post Quarterly Sales of $78.90 Million

Brokerages forecast that LendingClub Co. (NYSE:LC) will report sales of $78.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for LendingClub’s earnings. The lowest sales estimate is $63.40 million and the highest is $94.39 million. LendingClub reported sales of $188.49 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 58.1%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, March 10th.

According to Zacks, analysts expect that LendingClub will report full year sales of $321.67 million for the current year, with estimates ranging from $302.20 million to $333.18 million. For the next financial year, analysts expect that the business will report sales of $540.46 million, with estimates ranging from $360.70 million to $639.82 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow LendingClub.

A number of equities research analysts have weighed in on LC shares. Wedbush reiterated a “buy” rating and set a $14.00 target price on shares of LendingClub in a research note on Thursday, December 31st. Credit Suisse Group cut their price objective on shares of LendingClub from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 5th. UBS Group boosted their price objective on shares of LendingClub from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Zacks Investment Research downgraded shares of LendingClub from a “buy” rating to a “hold” rating in a research report on Thursday, November 12th. Finally, Morgan Stanley cut their price objective on shares of LendingClub from $8.00 to $7.50 and set an “equal weight” rating for the company in a research report on Thursday, November 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.63.

In other LendingClub news, insider Valerie Kay sold 3,618 shares of the business’s stock in a transaction on Monday, December 21st. The shares were sold at an average price of $8.29, for a total value of $29,993.22. Following the sale, the insider now owns 76,096 shares in the company, valued at approximately $630,835.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 9,043 shares of the business’s stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $11.06, for a total transaction of $100,015.58. Following the completion of the sale, the chief executive officer now owns 737,012 shares in the company, valued at approximately $8,151,352.72. The disclosure for this sale can be found here. Insiders sold a total of 27,175 shares of company stock valued at $260,034 in the last ninety days. 4.48% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Voloridge Investment Management LLC purchased a new stake in shares of LendingClub during the 4th quarter valued at about $3,156,000. Canada Pension Plan Investment Board purchased a new stake in shares of LendingClub during the 4th quarter valued at about $1,395,000. Squarepoint Ops LLC purchased a new stake in shares of LendingClub during the 4th quarter valued at about $168,000. Morgan Stanley raised its position in shares of LendingClub by 76.6% during the 4th quarter. Morgan Stanley now owns 4,156,203 shares of the credit services provider’s stock valued at $43,889,000 after buying an additional 1,803,082 shares in the last quarter. Finally, Toroso Investments LLC purchased a new stake in shares of LendingClub during the 4th quarter valued at about $213,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.

LC traded down $0.48 during mid-day trading on Tuesday, reaching $11.77. 2,323,832 shares of the company traded hands, compared to its average volume of 1,718,575. The stock has a market capitalization of $1.04 billion, a P/E ratio of -5.02 and a beta of 1.74. The company has a quick ratio of 4.14, a current ratio of 4.70 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $11.69 and its 200-day moving average price is $7.61. LendingClub has a 52-week low of $4.32 and a 52-week high of $14.28.

About LendingClub

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

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