LendingClub (NYSE:LC) Downgraded by StockNews.com

StockNews.com cut shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a report issued on Friday.

LC has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a research note on Thursday. Finally, Maxim Group increased their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.38.

LendingClub Stock Performance

LendingClub stock opened at $13.59 on Friday. The firm’s 50 day moving average price is $11.69 and its two-hundred day moving average price is $10.02. The firm has a market cap of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04. LendingClub has a twelve month low of $4.73 and a twelve month high of $15.52.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. During the same period last year, the company earned $0.05 earnings per share. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that LendingClub will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.25, for a total transaction of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares in the company, valued at $14,179,460.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 51,703 shares of company stock worth $562,705 in the last quarter. 3.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Baader Bank Aktiengesellschaft acquired a new position in shares of LendingClub during the second quarter valued at about $600,000. Capstone Investment Advisors LLC acquired a new position in LendingClub in the 1st quarter valued at approximately $164,000. Vanguard Group Inc. lifted its position in shares of LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after acquiring an additional 336,827 shares during the period. Interval Partners LP grew its holdings in shares of LendingClub by 54.3% during the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock worth $4,188,000 after purchasing an additional 174,130 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of LendingClub by 8.2% during the first quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock valued at $2,766,000 after purchasing an additional 23,790 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.