Maxim Group Reaffirms Buy Rating for LendingClub (NYSE:LC)

Maxim Group reaffirmed their buy rating on shares of LendingClub (NYSE:LC) in a report released on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $23.00 price target on the credit services provider’s stock.

A number of other equities research analysts have also weighed in on LC. ValuEngine upgraded shares of LendingClub from a sell rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of LendingClub from a buy rating to a hold rating in a research note on Saturday, October 12th. BTIG Research decreased their price objective on shares of LendingClub from $30.00 to $23.00 and set a buy rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley decreased their price objective on shares of LendingClub from $23.75 to $17.00 and set an equal weight rating for the company in a research note on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. LendingClub has a consensus rating of Buy and an average price target of $20.80.

Shares of LC traded up $0.11 on Thursday, reaching $14.76. The company’s stock had a trading volume of 505,843 shares, compared to its average volume of 551,475. The company has a current ratio of 7.06, a quick ratio of 5.81 and a debt-to-equity ratio of 2.11. LendingClub has a twelve month low of $10.89 and a twelve month high of $18.85. The stock has a market capitalization of $1.27 billion, a PE ratio of -42.17 and a beta of 1.60. The firm has a fifty day moving average of $12.90 and a 200-day moving average of $9.68.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.08. LendingClub had a negative net margin of 5.91% and a negative return on equity of 1.02%. The company had revenue of $204.90 million for the quarter, compared to analyst estimates of $204.63 million. During the same quarter in the prior year, the business posted $0.03 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts anticipate that LendingClub will post -0.13 EPS for the current fiscal year.

In other LendingClub news, insider Timothy Bogan sold 10,463 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $14.34, for a total value of $150,039.42. Following the completion of the sale, the insider now owns 59,541 shares in the company, valued at approximately $853,817.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Steven Allocca acquired 14,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $13.92 per share, with a total value of $194,880.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,563 shares of company stock valued at $510,603. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $33,000. SG Americas Securities LLC grew its position in shares of LendingClub by 1,312.2% during the 3rd quarter. SG Americas Securities LLC now owns 164,158 shares of the credit services provider’s stock valued at $2,147,000 after acquiring an additional 152,534 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $83,981,000. Brighton Jones LLC bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $930,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $2,056,000.

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.

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