LendingClub (NYSE:LC) Now Covered by Analysts at Stephens
Several other research analysts have also issued reports on the company. Keefe, Bruyette & Woods cut their price target on LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Finally, Wall Street Zen lowered LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.13.
NYSE LC opened at $10.47 on Thursday. The business has a 50 day simple moving average of $10.21 and a 200 day simple moving average of $12.70. LendingClub has a one year low of $7.81 and a one year high of $18.75. The stock has a market capitalization of $1.20 billion, a P/E ratio of 23.26 and a beta of 2.41.
LendingClub (NYSE:LC – Get Free Report) last released its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business had revenue of $217.71 million during the quarter, compared to analysts’ expectations of $213.71 million. During the same quarter last year, the firm posted $0.11 earnings per share. The firm’s revenue was up 21670.0% on a year-over-year basis. Equities analysts expect that LendingClub will post 0.72 earnings per share for the current year.
In other news, CEO Scott Sanborn sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $10.65, for a total value of $55,912.50. Following the transaction, the chief executive officer now owns 1,287,282 shares in the company, valued at $13,709,553.30. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Zeisser bought 20,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was bought at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the acquisition, the director now directly owns 174,138 shares of the company’s stock, valued at approximately $1,628,190.30. This represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,250 shares of company stock worth $269,273 over the last 90 days. 3.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in LendingClub by 36.0% in the first quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider’s stock worth $53,330,000 after buying an additional 1,368,057 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of LendingClub by 8.6% in the first quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider’s stock valued at $40,220,000 after purchasing an additional 308,523 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of LendingClub by 196.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after purchasing an additional 1,412,568 shares in the last quarter. Long Focus Capital Management LLC grew its position in LendingClub by 26.4% during the first quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider’s stock worth $20,998,000 after buying an additional 425,000 shares in the last quarter. Finally, American Century Companies Inc. grew its position in LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider’s stock worth $30,691,000 after buying an additional 160,916 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.
LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.
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