LendingClub (NYSE:LC) Now Covered by Stephens
Several other research analysts have also recently commented on LC. Keefe, Bruyette & Woods lowered their price target on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.13.
NYSE:LC opened at $10.47 on Thursday. LendingClub has a 12-month low of $7.81 and a 12-month high of $18.75. The firm has a market cap of $1.20 billion, a PE ratio of 23.26 and a beta of 2.41. The stock has a fifty day moving average price of $10.21 and a 200 day moving average price of $12.73.
LendingClub (NYSE:LC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $213.71 million. During the same period in the previous year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 21670.0% on a year-over-year basis. Equities analysts forecast that LendingClub will post 0.72 EPS for the current year.
In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total value of $55,912.50. Following the completion of the transaction, the chief executive officer now owns 1,287,282 shares in the company, valued at $13,709,553.30. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael P. Zeisser bought 20,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. Insiders have sold 26,250 shares of company stock valued at $269,273 in the last ninety days. Insiders own 3.19% of the company’s stock.
Several large investors have recently modified their holdings of LC. Wellington Management Group LLP increased its holdings in shares of LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after acquiring an additional 2,961,050 shares during the period. Driehaus Capital Management LLC grew its position in LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock worth $58,103,000 after purchasing an additional 2,498,318 shares during the last quarter. Nuveen LLC acquired a new position in LendingClub in the first quarter valued at $16,329,000. Balyasny Asset Management L.P. raised its holdings 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 buying an additional 1,412,568 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of LendingClub by 158.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock valued at $24,647,000 after buying an additional 933,680 shares during the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.
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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