LendingClub (NYSE:LC) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of LendingClub (NYSE:LC) from a buy rating to a strong-buy rating in a research note released on Wednesday, ValuEngine reports.

A number of other equities research analysts also recently commented on LC. Maxim Group reaffirmed a buy rating and issued a $22.50 price objective (up previously from $4.50) on shares of LendingClub in a research report on Tuesday, July 9th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a buy rating in a research report on Friday, July 12th. Finally, Wedbush reaffirmed an outperform rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $20.65.

LendingClub stock opened at $15.23 on Wednesday. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27. The business’s fifty day moving average is $6.06. The stock has a market capitalization of $1.35 billion, a P/E ratio of -43.51 and a beta of 1.59. LendingClub has a fifty-two week low of $12.30 and a fifty-two week high of $22.75.

LendingClub (NYSE:LC) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $174.40 million during the quarter, compared to the consensus estimate of $170.45 million. LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. LendingClub’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Research analysts anticipate that LendingClub will post -0.2 earnings per share for the current fiscal year.

In related news, Director Mary G. Meeker sold 40,333 shares of LendingClub stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.25, for a total value of $131,082.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Valerie Kay sold 9,500 shares of LendingClub stock in a transaction on Monday, April 29th. The shares were sold at an average price of $3.24, for a total value of $30,780.00. Following the completion of the transaction, the insider now owns 218,177 shares in the company, valued at approximately $706,893.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,045,833 shares of company stock valued at $3,517,142. Company insiders own 4.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of LC. ARK Investment Management LLC lifted its stake in shares of LendingClub by 22.4% during the first quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after purchasing an additional 3,926,187 shares in the last quarter. Norges Bank acquired a new position in shares of LendingClub during the fourth quarter worth about $7,608,000. Actinver Wealth Management Inc. acquired a new position in shares of LendingClub during the fourth quarter worth about $2,244,000. Geode Capital Management LLC lifted its stake in shares of LendingClub by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 4,048,074 shares of the credit services provider’s stock worth $10,646,000 after purchasing an additional 392,103 shares in the last quarter. Finally, American International Group Inc. lifted its stake in shares of LendingClub by 125.8% during the first quarter. American International Group Inc. now owns 477,295 shares of the credit services provider’s stock worth $1,475,000 after purchasing an additional 265,872 shares in the last quarter.

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.

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