According to Zacks, “LendingClub Corporation provides financial services over the Internet. The company offers an online marketplace for loan approvals, pricing, service and support operations, and a regulatory and legal framework that connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California.”
A number of other research companies have also weighed in on LC recently. Wedbush lowered its price target on LendingClub shares from $35.00 to $30.00 in a Monday, February 7 report. Credit Suisse Group lowered its price target on LendingClub shares from $34.00 to $27.00 and set a “neutral” rating for the company in a Thursday, January 27 research report. Janney Montgomery Scott moved LendingClub shares from a “neutral” rating to a “buy” rating and set a price target of $32.00 for the company in a Wednesday, January 12 research report. Finally, Seaport Res Ptn reaffirmed a “buy” rating on LendingClub shares in a Tuesday, January 11 research report. Two investment analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, LendingClub has a consensus rating of “Buy” and an average price target of $38.83.
NYSE:LC opened at $15.81 on Friday. The company has a 50-day simple moving average of $20.37 and a 200-day simple moving average of $28.03. The company has a debt ratio of 0.27, a current ratio of 1.29 and a quick ratio of 1.09. The company has a market capitalization of $1.60 billion, a PE ratio of 121.62 and a beta of 2.10. LendingClub has a 1 year minimum of $9.50 and a 1 year maximum of $49.21.
LendingClub (NYSE:LC- Get a rating) last released its quarterly earnings data on Wednesday, January 26. The credit service provider reported earnings per share (EPS) of $0.80 for the quarter, beating the consensus estimate of $0.21 by $0.59. The company posted revenue of $262.24 million in the quarter, versus a consensus estimate of $247.69 million. LendingClub had a net margin of 2.27% and a return on equity of 16.23%. During the same period of the previous year, the company made ($0.24) earnings per share. As a group, sell-side analysts expect LendingClub to post earnings per share of 1.42 for the current fiscal year.
Separately, Chief Financial Officer Thomas W. Casey purchased 2,750 shares of the company in a transaction on Friday, February 11. The shares were purchased at an average cost of $17.98 per share, for a total transaction of $49,445.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Annie Armstrong sold 3,686 shares of the company in a transaction dated Tuesday, December 7. The stock was sold at an average price of $31.31, for a total value of $115,408.66. Disclosure of this sale can be found here. Insiders sold a total of 33,842 shares of the company valued at $719,453 during the last quarter. 3.17% of the shares are held by insiders.
Several institutional investors and hedge funds have recently changed their holdings in the company. Morgan Stanley increased its holdings of LendingClub shares by 113.2% in Q3. Morgan Stanley now owns 2,381,052 shares of the credit services provider worth $67,241,000 after buying an additional 1,263,989 shares last quarter. State Street Corp raised its position in LendingClub shares by 42.9% in the second quarter. State Street Corp now owns 2,365,234 shares of the credit service provider worth $42,882,000 after acquiring an additional 709,886 shares last quarter. Foundation Capital LLC purchased a new equity stake in LendingClub in Q4 for approximately $48,999,000. Two Sigma Advisers LP increased its stake in LendingClub by 41.3% during Q3. Two Sigma Advisers LP now owns 1,737,656 shares of the credit service provider valued at $49,071,000 after purchasing an additional 508,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in LendingClub by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,726,493 shares of the credit services provider valued at $41,746,000 after purchasing an additional 6,048 shares in the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s shares.
About LendingClub (Get a rating)
LendingClub Corp. operates as an online marketplace that facilitates borrower lending and investment. Its products include unsecured personal loans, secured auto refinance loans, patient loans and education loans. The company was founded by Renaud Laplanche and Soulaiman Htite in 2006 and is based in San Francisco, CA.
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