LendingClub Corporation (NYSE:LC) had its price objective reduced by Canaccord Genuity from $7.00 to $6.00 in a research note issued to investors on Wednesday. They currently have a buy rating on the credit services provider’s stock.
Other analysts also recently issued research reports about the company. Vetr downgraded LendingClub Corporation from a strong-buy rating to a buy rating and set a $6.55 target price on the stock. in a research report on Wednesday, August 16th. BTIG Research reaffirmed a buy rating and issued a $9.00 target price on shares of LendingClub Corporation in a research report on Wednesday, September 27th. Needham & Company LLC initiated coverage on LendingClub Corporation in a research report on Wednesday, November 1st. They issued a buy rating and a $7.00 target price on the stock. Maxim Group initiated coverage on LendingClub Corporation in a research report on Tuesday, November 7th. They issued a buy rating and a $8.00 target price on the stock. Finally, Zacks Investment Research raised LendingClub Corporation from a sell rating to a hold rating and set a $6.50 target price on the stock in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $6.89.
LendingClub Corporation (NYSE LC) traded up $0.01 during trading hours on Wednesday, hitting $4.30. The company had a trading volume of 18,226,500 shares, compared to its average volume of 9,195,636. The company has a debt-to-equity ratio of 3.52, a quick ratio of 18.90 and a current ratio of 18.02. LendingClub Corporation has a twelve month low of $4.20 and a twelve month high of $6.78.
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In other news, insider Timothy Bogan sold 15,204 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.09, for a total transaction of $92,592.36. Following the completion of the sale, the insider now owns 120,946 shares in the company, valued at $736,561.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas W. Casey sold 7,287 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.08, for a total value of $44,304.96. Following the sale, the chief financial officer now owns 39,758 shares of the company’s stock, valued at approximately $241,728.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,116 shares of company stock valued at $1,288,135. Corporate insiders own 11.40% of the company’s stock.
Several large investors have recently modified their holdings of LC. Quantbot Technologies LP bought a new stake in shares of LendingClub Corporation during the third quarter worth approximately $103,000. Prudential Financial Inc. boosted its stake in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock valued at $131,000 after buying an additional 5,130 shares during the period. Blair William & Co. IL boosted its stake in shares of LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock valued at $144,000 after buying an additional 2,650 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of LendingClub Corporation in the second quarter valued at approximately $150,000. Institutional investors own 87.80% of the company’s stock.
LendingClub Corporation Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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