Shares of LendingClub Corp (NYSE:LC) have been assigned a consensus rating of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $6.54.
Several analysts have commented on LC shares. Canaccord Genuity reduced their price objective on LendingClub from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. BTIG Research reaffirmed a “buy” rating and set a $9.00 price objective on shares of LendingClub in a research note on Wednesday, September 27th. Needham & Company LLC started coverage on LendingClub in a research note on Wednesday, November 1st. They set a “buy” rating and a $7.00 price objective for the company. Maxim Group started coverage on LendingClub in a research note on Tuesday, November 7th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Oppenheimer reaffirmed a “buy” rating and set a $5.00 price objective on shares of LendingClub in a research note on Friday, December 8th.
Shares of LendingClub (NYSE:LC) opened at $4.10 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02. The company has a market capitalization of $1,738.30, a P/E ratio of -17.83 and a beta of 1.60. LendingClub has a one year low of $3.29 and a one year high of $6.78.
In other news, major shareholder Tian Qiao Chen acquired 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average cost of $3.80 per share, with a total value of $15,200,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Thomas W. Casey acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $4.17 per share, with a total value of $41,700.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 25,957,175 shares of company stock valued at $100,843,283. Company insiders own 9.72% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. increased its stake in LendingClub by 5.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 802,539 shares of the credit services provider’s stock valued at $4,887,000 after purchasing an additional 43,247 shares in the last quarter. Royce & Associates LP grew its holdings in LendingClub by 8.9% during the 2nd quarter. Royce & Associates LP now owns 565,365 shares of the credit services provider’s stock valued at $3,115,000 after buying an additional 46,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in LendingClub by 497.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,345,149 shares of the credit services provider’s stock valued at $18,432,000 after buying an additional 2,785,549 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in LendingClub during the 3rd quarter valued at $3,373,000. Finally, Ark Investment Management LLC grew its holdings in LendingClub by 32.2% during the 2nd quarter. Ark Investment Management LLC now owns 1,416,570 shares of the credit services provider’s stock valued at $7,805,000 after buying an additional 345,015 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.
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LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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