LendingClub Corp (LC) Boosted at Wedbush

LendingClub Corp (LC) Boosted at Wedbush

Wedbush upgraded shares of LendingClub Corp (NYSE:LC) from an underperform rating to a neutral rating in a research note released on Wednesday. The brokerage currently has $5.00 price target on the stock, up from their prior price target of $4.50.

A number of other equities analysts have also recently commented on LC. Vetr raised shares of LendingClub Corp from a buy rating to a strong-buy rating and set a $6.08 price objective for the company in a research note on Thursday, December 1st. Janney Montgomery Scott started coverage on shares of LendingClub Corp in a research note on Tuesday, December 6th. They issued a neutral rating and a $6.00 price objective for the company. Canaccord Genuity reissued a hold rating and issued a $7.00 price objective on shares of LendingClub Corp in a research note on Tuesday, January 3rd. Zacks Investment Research raised shares of LendingClub Corp from a hold rating to a buy rating and set a $6.25 price objective for the company in a research note on Tuesday, January 10th. Finally, FBR & Co reissued a market perform rating and issued a $6.50 price objective on shares of LendingClub Corp in a research note on Wednesday, February 15th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $5.97.

LendingClub Corp (NYSE:LC) opened at 5.13 on Wednesday. LendingClub Corp has a 1-year low of $3.44 and a 1-year high of $8.41. The company has a 50-day moving average of $5.63 and a 200-day moving average of $5.64. The company’s market capitalization is $2.05 billion.

LendingClub Corp (NYSE:LC) last issued its quarterly earnings data on Tuesday, February 14th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. LendingClub Corp had a negative net margin of 21.75% and a negative return on equity of 6.68%. The business earned $129.20 million during the quarter, compared to analysts’ expectations of $121.84 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue was down 3.9% on a year-over-year basis. Equities analysts expect that LendingClub Corp will post $0.05 EPS for the current fiscal year.

In related news, insider Sandeep Bhandari sold 8,898 shares of LendingClub Corp stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $5.66, for a total transaction of $50,362.68. Following the completion of the sale, the insider now owns 49,959 shares in the company, valued at approximately $282,767.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas W. Casey sold 4,942 shares of LendingClub Corp stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $5.65, for a total transaction of $27,922.30. Following the sale, the chief financial officer now owns 22,335 shares of the company’s stock, valued at approximately $126,192.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,733 shares of company stock valued at $684,496. 11.40% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in LC. Macquarie Group Ltd. raised its stake in shares of LendingClub Corp by 3.0% in the second quarter. Macquarie Group Ltd. now owns 6,473,479 shares of the company’s stock worth $27,836,000 after buying an additional 187,344 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of LendingClub Corp by 0.7% in the third quarter. Evergreen Capital Management LLC now owns 516,285 shares of the company’s stock worth $3,190,000 after buying an additional 3,575 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in shares of LendingClub Corp during the third quarter worth $119,000. Joel Isaacson & Co. LLC raised its stake in shares of LendingClub Corp by 43.9% in the third quarter. Joel Isaacson & Co. LLC now owns 35,563 shares of the company’s stock worth $220,000 after buying an additional 10,846 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of LendingClub Corp by 30.8% in the third quarter. Wells Fargo & Company MN now owns 150,342 shares of the company’s stock worth $929,000 after buying an additional 35,378 shares during the last quarter. Institutional investors own 80.27% of the company’s stock.

About LendingClub Corp

LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.

Related posts

Leave a Comment