LendingClub Corp (NYSE:LC) President Steven Allocca purchased 14,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $13.92 per share, for a total transaction of $194,880.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of NYSE LC traded down $0.59 during trading hours on Thursday, reaching $13.30. 742,789 shares of the stock traded hands, compared to its average volume of 549,342. The company has a market capitalization of $1.21 billion, a P/E ratio of -38.00 and a beta of 1.58. The company has a quick ratio of 5.81, a current ratio of 7.06 and a debt-to-equity ratio of 2.11. LendingClub Corp has a 52-week low of $12.30 and a 52-week high of $20.15. The company’s 50-day simple moving average is $12.32 and its two-hundred day simple moving average is $5.49.
LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The company had revenue of $190.80 million for the quarter, compared to analysts’ expectations of $192.04 million. LendingClub had a negative return on equity of 2.67% and a negative net margin of 9.14%. LendingClub’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, sell-side analysts forecast that LendingClub Corp will post -0.13 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC bought a new stake in LendingClub in the second quarter worth $4,253,000. Price T Rowe Associates Inc. MD boosted its holdings in LendingClub by 11.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,808,579 shares of the credit services provider’s stock worth $5,932,000 after acquiring an additional 188,963 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in LendingClub by 9.5% in the second quarter. UBS Asset Management Americas Inc. now owns 223,465 shares of the credit services provider’s stock worth $733,000 after acquiring an additional 19,328 shares in the last quarter. CSat Investment Advisory L.P. bought a new stake in LendingClub in the second quarter worth $160,000. Finally, Jane Street Group LLC boosted its holdings in LendingClub by 166.5% in the second quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock worth $686,000 after acquiring an additional 130,681 shares in the last quarter.
Several analysts have weighed in on LC shares. ValuEngine cut LendingClub from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on LendingClub from $23.75 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Wedbush raised LendingClub from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $18.75 to $25.00 in a report on Wednesday, May 8th. Zacks Investment Research cut LendingClub from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Maxim Group set a $23.00 price objective on LendingClub and gave the company a “buy” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.63.
LendingClub Company Profile
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.
See Also: Why do companies pay special dividends?
Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.