ValuEngine Lowers LendingClub (NYSE:LC) to Hold

ValuEngine lowered shares of LendingClub (NYSE:LC) from a buy rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised LendingClub from a hold rating to a buy rating and set a $17.50 target price for the company in a report on Wednesday, July 3rd. Maxim Group reaffirmed a buy rating and issued a $22.50 target price (up from $4.50) on shares of LendingClub in a report on Tuesday, July 9th. Wedbush raised LendingClub from a neutral rating to an outperform rating and upped their target price for the company from $18.75 to $25.00 in a report on Wednesday, May 8th. Finally, Morgan Stanley reduced their target price on LendingClub from $23.75 to $17.00 and set an equal weight rating for the company in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $20.65.

LC traded down $0.24 during midday trading on Thursday, reaching $14.14. 580,027 shares of the company were exchanged, compared to its average volume of 904,469. The company has a debt-to-equity ratio of 2.27, a quick ratio of 3.93 and a current ratio of 4.88. The stock has a fifty day moving average of $9.34. The company has a market cap of $1.24 billion, a P/E ratio of -40.40 and a beta of 1.58. LendingClub has a one year low of $12.30 and a one year high of $20.65.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15). The firm had revenue of $174.40 million during the quarter, compared to analyst estimates of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, sell-side analysts forecast that LendingClub will post -0.2 EPS for the current year.

In other news, Director Mary G. Meeker sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $3.57, for a total value of $357,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Valerie Kay sold 9,500 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.98, for a total value of $28,310.00. Following the completion of the transaction, the insider now directly owns 242,981 shares of the company’s stock, valued at $724,083.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,036,333 shares of company stock valued at $3,486,362. 4.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LC. California Public Employees Retirement System raised its position in LendingClub by 89.9% during the 4th quarter. California Public Employees Retirement System now owns 236,468 shares of the credit services provider’s stock worth $622,000 after buying an additional 111,913 shares during the last quarter. Bank of New York Mellon Corp grew its stake in LendingClub by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,505,051 shares of the credit services provider’s stock valued at $3,958,000 after acquiring an additional 40,842 shares during the last quarter. Northern Trust Corp grew its stake in LendingClub by 0.7% in the 4th quarter. Northern Trust Corp now owns 4,024,271 shares of the credit services provider’s stock valued at $10,584,000 after acquiring an additional 27,375 shares during the last quarter. United Services Automobile Association grew its stake in LendingClub by 21.3% in the 4th quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock valued at $187,000 after acquiring an additional 12,474 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in LendingClub by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,088,195 shares of the credit services provider’s stock valued at $34,423,000 after acquiring an additional 177,193 shares during the last quarter.

About LendingClub

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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