Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded LendingClub from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on LendingClub from $23.75 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, Maxim Group set a $23.00 price objective on LendingClub and gave the company a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.63.
LC traded down $0.08 during midday trading on Tuesday, reaching $14.82. 5,094 shares of the company were exchanged, compared to its average volume of 548,118. The company has a debt-to-equity ratio of 2.11, a quick ratio of 5.81 and a current ratio of 7.06. The company’s fifty day moving average price is $13.92 and its 200 day moving average price is $6.80. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -42.47 and a beta of 1.60. LendingClub has a one year low of $12.30 and a one year high of $20.15.
LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. LendingClub had a negative return on equity of 2.67% and a negative net margin of 9.14%. The firm had revenue of $190.80 million during the quarter, compared to analyst estimates of $192.04 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that LendingClub will post -0.13 earnings per share for the current fiscal year.
In related news, Director Susan C. Athey sold 6,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $15.04, for a total transaction of $90,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Valerie Kay sold 9,500 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.98, for a total transaction of $28,310.00. Following the sale, the insider now directly owns 242,981 shares of the company’s stock, valued at approximately $724,083.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,700 shares of company stock valued at $121,192. Company insiders own 4.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of LC. Aperio Group LLC acquired a new stake in LendingClub in the second quarter valued at approximately $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in LendingClub during the second quarter worth $54,000. SG Americas Securities LLC bought a new position in LendingClub during the first quarter worth $60,000. Mizuho Securities Co. Ltd. bought a new position in LendingClub during the second quarter worth $66,000. Finally, Prudential Financial Inc. lifted its stake in LendingClub by 9.0% in the second quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock valued at $77,000 after buying an additional 1,930 shares during the last quarter.
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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