LendingClub Corporation (NYSE:LC) – Analysts at Oppenheimer Holdings lifted their FY2017 earnings estimates for shares of LendingClub Corporation in a report released on Thursday. Oppenheimer Holdings analyst J. Kelly now forecasts that the credit services provider will post earnings per share of ($0.15) for the year, up from their prior forecast of ($0.16). Oppenheimer Holdings currently has a “Outperform” rating and a $7.00 price objective on the stock. Oppenheimer Holdings also issued estimates for LendingClub Corporation’s FY2018 earnings at $0.00 EPS.
LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $134.02 million. LendingClub Corporation had a negative return on equity of 14.31% and a negative net margin of 38.40%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. COPYRIGHT VIOLATION WARNING: This piece was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2017/08/19/lendingclub-corporation-nyselc-expected-to-earn-fy2017-earnings-of-0-15-per-share-updated.html.
LendingClub Corporation (NYSE LC) opened at 5.46 on Monday. LendingClub Corporation has a one year low of $4.30 and a one year high of $6.78. The firm’s market capitalization is $2.21 billion. The stock’s 50 day moving average price is $5.43 and its 200 day moving average price is $5.63.
In other LendingClub Corporation news, COO Sameer Gulati sold 8,305 shares of LendingClub Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total value of $42,189.40. Following the transaction, the chief operating officer now owns 265,657 shares in the company, valued at approximately $1,349,537.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas W. Casey sold 5,254 shares of LendingClub Corporation stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.65, for a total transaction of $29,685.10. Following the completion of the transaction, the chief financial officer now owns 31,203 shares in the company, valued at approximately $176,296.95. The disclosure for this sale can be found here. Insiders sold a total of 463,239 shares of company stock valued at $2,677,984 over the last ninety days. 11.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of LendingClub Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock worth $148,795,000 after buying an additional 1,119,288 shares during the period. BlackRock Inc. raised its position in shares of LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after buying an additional 21,445,128 shares during the period. State Street Corp raised its position in shares of LendingClub Corporation by 3.2% in the first quarter. State Street Corp now owns 6,138,220 shares of the credit services provider’s stock worth $33,702,000 after buying an additional 192,990 shares during the period. Jericho Capital Asset Management L.P. bought a new position in shares of LendingClub Corporation during the first quarter worth $32,440,000. Finally, Macquarie Group Ltd. raised its position in shares of LendingClub Corporation by 9.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,891,874 shares of the credit services provider’s stock worth $20,432,000 after buying an additional 333,989 shares during the period. Institutional investors own 90.92% of the company’s stock.
About LendingClub Corporation
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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