LendingClub (LC) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of LendingClub (NYSE:LC) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “

A number of other brokerages have also commented on LC. Morgan Stanley lowered LendingClub from an overweight rating to an equal weight rating and increased their price objective for the company from $6.00 to $6.50 in a report on Thursday, July 19th. Citigroup increased their price target on LendingClub from $4.15 to $4.25 and gave the company a neutral rating in a report on Wednesday, August 8th. Maxim Group reiterated a buy rating and set a $6.00 price target on shares of LendingClub in a report on Wednesday, August 8th. ValuEngine upgraded LendingClub from a sell rating to a hold rating in a report on Saturday, June 2nd. Finally, Craig Hallum set a $5.00 price target on LendingClub and gave the company a buy rating in a report on Friday, June 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $5.75.

LendingClub stock opened at $3.91 on Friday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 8.75 and a current ratio of 10.23. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -23.00 and a beta of 1.41. LendingClub has a one year low of $2.57 and a one year high of $6.56.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, August 7th. The credit services provider reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The firm had revenue of $176.98 million for the quarter, compared to the consensus estimate of $164.25 million. LendingClub had a negative net margin of 29.82% and a negative return on equity of 3.78%. sell-side analysts predict that LendingClub will post -0.1 EPS for the current fiscal year.

In other LendingClub news, insider Timothy Bogan sold 25,000 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $4.50, for a total value of $112,500.00. Following the sale, the insider now directly owns 149,045 shares in the company, valued at approximately $670,702.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Simon Williams sold 50,000 shares of the firm’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $4.33, for a total transaction of $216,500.00. Following the completion of the sale, the director now owns 86,389 shares in the company, valued at $374,064.37. The disclosure for this sale can be found here. Insiders sold a total of 125,000 shares of company stock worth $527,000 in the last ninety days. Insiders own 4.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. acquired a new stake in LendingClub during the first quarter worth about $109,000. Symons Capital Management Inc. acquired a new stake in LendingClub during the first quarter worth about $135,000. Paloma Partners Management Co acquired a new stake in LendingClub during the second quarter worth about $151,000. Xact Kapitalforvaltning AB grew its holdings in shares of LendingClub by 60.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 45,233 shares of the credit services provider’s stock worth $158,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of LendingClub during the 2nd quarter worth approximately $159,000. Institutional investors own 87.47% of the company’s stock.

LendingClub Company Profile

LendingClub Corporation operates an online marketplace platform that connects borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient finance loans, auto refinance loans, and unsecured small business loans.

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