LendingClub (NYSE:LC) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research report released on Friday morning.

Several other equities analysts also recently issued reports on LC. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. Maxim Group boosted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Compass Point raised their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

LendingClub Price Performance

LendingClub stock opened at $13.59 on Friday. The business has a 50 day simple moving average of $11.69 and a 200 day simple moving average of $10.02. The company has a market capitalization of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04. LendingClub has a one year low of $4.73 and a one year high of $15.52.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same period last year, the business earned $0.05 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Equities analysts anticipate that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 51,703 shares of company stock valued at $562,705 in the last ninety days. 3.31% of the stock is owned by insiders.

Institutional Trading of LendingClub

Several hedge funds have recently added to or reduced their stakes in LC. Assenagon Asset Management S.A. grew its stake in LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after acquiring an additional 828,958 shares during the period. Vanguard Group Inc. grew its position in shares of LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the period. American Century Companies Inc. increased its stake in LendingClub by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares in the last quarter. Interval Partners LP acquired a new stake in LendingClub during the 1st quarter worth approximately $2,821,000. Finally, Dimensional Fund Advisors LP lifted its stake in LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after buying an additional 300,536 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Company Profile

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.