LendingClub (NYSE:LC) Stock Rating Lowered by ValuEngine

LendingClub (NYSE:LC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday, ValuEngine reports.

LC has been the subject of a number of other reports. Maxim Group reissued a “buy” rating and issued a $4.50 price objective on shares of LendingClub in a research note on Wednesday, February 20th. Wedbush raised shares of LendingClub from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $3.75 to $5.00 in a research note on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. LendingClub presently has an average rating of “Hold” and an average price target of $4.85.

Shares of NYSE:LC traded down $0.10 on Friday, reaching $2.84. The company’s stock had a trading volume of 2,354,599 shares, compared to its average volume of 2,221,351. LendingClub has a 52-week low of $2.46 and a 52-week high of $4.55. The stock has a market capitalization of $1.27 billion, a P/E ratio of -40.57 and a beta of 1.57. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. The business had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. During the same period last year, the company posted $0.01 EPS. The business’s revenue was up 15.0% on a year-over-year basis. On average, analysts expect that LendingClub will post -0.04 earnings per share for the current year.

In related news, Director Mary G. Meeker sold 40,333 shares of LendingClub stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $3.25, for a total transaction of $131,082.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Valerie Kay sold 9,500 shares of LendingClub stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $3.10, for a total transaction of $29,450.00. Following the transaction, the insider now directly owns 241,851 shares of the company’s stock, valued at $749,738.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,045,833 shares of company stock valued at $3,517,237. 4.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in LC. ARK Investment Management LLC boosted its position in LendingClub by 22.4% in the 1st quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock valued at $66,290,000 after buying an additional 3,926,187 shares during the period. Hsbc Holdings PLC boosted its position in LendingClub by 81.1% in the 4th quarter. Hsbc Holdings PLC now owns 7,508,202 shares of the credit services provider’s stock valued at $19,747,000 after buying an additional 3,363,305 shares during the period. Norges Bank purchased a new stake in LendingClub in the 4th quarter valued at about $7,608,000. Goldman Sachs Group Inc. boosted its position in LendingClub by 120.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,495,288 shares of the credit services provider’s stock valued at $4,620,000 after buying an additional 818,289 shares during the period. Finally, Geode Capital Management LLC boosted its position in LendingClub by 15.7% in the 1st quarter. Geode Capital Management LLC now owns 4,682,221 shares of the credit services provider’s stock valued at $14,468,000 after buying an additional 634,147 shares during the period. 87.87% of the stock is owned by institutional investors.

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.

Read More: Net Margin

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