LendingClub Corp (NYSE:LC) Earns Neutral Rating from Credit Suisse Group

LendingClub Corp (NYSE:LC)‘s stock had its “neutral” rating reaffirmed by Credit Suisse Group in a report issued on Thursday. They currently have a $8.00 price objective on the credit services provider’s stock. Credit Suisse Group’s price target suggests a potential upside of 37.93% from the stock’s previous close.

A number of other brokerages also recently weighed in on LC. Vetr downgraded shares of LendingClub Corp from a “strong-buy” rating to a “hold” rating and set a $6.55 price objective for the company. in a research report on Wednesday. Susquehanna Bancshares Inc upgraded shares of LendingClub Corp from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $6.00 to $9.00 in a research report on Monday, May 1st. UBS AG upgraded shares of LendingClub Corp from a “neutral” rating to a “positive” rating in a research report on Monday, May 1st. FBR & Co restated a “market perform” rating and set a $6.50 price target on shares of LendingClub Corp in a research report on Monday, May 15th. Finally, Canaccord Genuity restated a “hold” rating and set a $7.00 price target on shares of LendingClub Corp in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. LendingClub Corp presently has an average rating of “Hold” and an average price target of $6.72.

LendingClub Corp (LC) opened at 5.80 on Thursday. LendingClub Corp has a one year low of $4.64 and a one year high of $6.78. The company’s market capitalization is $2.39 billion. The company has a 50-day moving average price of $5.42 and a 200-day moving average price of $5.63.

LendingClub Corp (NYSE:LC) last issued its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corp had a negative net margin of 8.78% and a negative return on equity of 10.48%. The company’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Analysts expect that LendingClub Corp will post $0.05 earnings per share for the current fiscal year.

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In other LendingClub Corp news, CEO Scott Sanborn sold 45,970 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $5.89, for a total value of $270,763.30. Following the completion of the sale, the chief executive officer now owns 910,901 shares in the company, valued at approximately $5,365,206.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Sameer Gulati sold 125,555 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $5.64, for a total transaction of $708,130.20. Following the completion of the sale, the chief operating officer now owns 121,898 shares of the company’s stock, valued at approximately $687,504.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,149 shares of company stock valued at $1,883,699. 11.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in LendingClub Corp by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares during the last quarter. Teacher Retirement System of Texas increased its stake in LendingClub Corp by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares during the last quarter. Blair William & Co. IL increased its stake in LendingClub Corp by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares during the last quarter. Malaga Cove Capital LLC increased its stake in LendingClub Corp by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock worth $147,000 after buying an additional 1,000 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in LendingClub Corp during the second quarter worth approximately $150,000. Institutional investors own 90.92% of the company’s stock.

LendingClub Corp Company Profile

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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