LendingClub Corp (NYSE:LC) has been assigned an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $5.05.
A number of equities research analysts recently weighed in on LC shares. Maxim Group reaffirmed a “buy” rating and set a $4.50 price target on shares of LendingClub in a report on Wednesday, February 20th. Wedbush set a $4.00 price target on LendingClub and gave the company a “hold” rating in a report on Wednesday, February 20th. Finally, Zacks Investment Research raised LendingClub from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Saturday, May 11th.
In related news, Director Mary G. Meeker sold 40,333 shares of LendingClub stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.25, for a total transaction of $131,082.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas W. Casey acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were bought at an average cost of $2.98 per share, with a total value of $44,700.00. Following the completion of the purchase, the chief financial officer now owns 190,805 shares of the company’s stock, valued at $568,598.90. The disclosure for this purchase can be found here. Insiders sold a total of 1,053,896 shares of company stock valued at $3,540,125 over the last three months. Insiders own 4.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. NewFocus Financial Group LLC acquired a new stake in shares of LendingClub during the fourth quarter worth $45,000. Vanguard Group Inc. grew its stake in shares of LendingClub by 7.1% during the third quarter. Vanguard Group Inc. now owns 33,949,574 shares of the credit services provider’s stock worth $131,725,000 after purchasing an additional 2,264,051 shares during the period. Karp Capital Management Corp grew its stake in shares of LendingClub by 5.2% during the fourth quarter. Karp Capital Management Corp now owns 120,672 shares of the credit services provider’s stock worth $317,000 after purchasing an additional 6,000 shares during the period. United Services Automobile Association grew its stake in shares of LendingClub by 21.3% during the fourth quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 12,474 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of LendingClub by 5.7% during the fourth quarter. Legal & General Group Plc now owns 142,560 shares of the credit services provider’s stock worth $375,000 after purchasing an additional 7,653 shares during the period. 87.91% of the stock is owned by institutional investors and hedge funds.
LC stock opened at $3.09 on Monday. LendingClub has a fifty-two week low of $2.46 and a fifty-two week high of $4.55. The firm has a market cap of $1.33 billion, a P/E ratio of -44.14 and a beta of 1.67. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27.
LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.03). LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The firm had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. During the same period last year, the firm posted $0.01 EPS. The business’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts expect that LendingClub will post -0.04 EPS for the current fiscal year.
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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