LendingClub (NYSE:LC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research note published on Tuesday.

Several other analysts have also recently issued reports on LC. JPMorgan Chase & Co. lowered their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods dropped their price objective on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.75.

LendingClub Price Performance

LendingClub stock opened at $10.65 on Tuesday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 23.66 and a beta of 2.35. LendingClub has a one year low of $7.81 and a one year high of $18.75. The business has a fifty day moving average price of $10.29 and a 200-day moving average price of $13.50.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue was up 21670.0% compared to the same quarter last year. Sell-side analysts expect that LendingClub will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares in the company, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,303,032 shares of the company’s stock, valued at $13,030,320. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,750 shares of company stock worth $257,985 over the last 90 days. Corporate insiders own 3.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LC. XTX Topco Ltd boosted its holdings in LendingClub by 355.5% during the 1st quarter. XTX Topco Ltd now owns 79,035 shares of the credit services provider’s stock valued at $816,000 after acquiring an additional 61,685 shares during the period. GSA Capital Partners LLP boosted its stake in shares of LendingClub by 98.1% during the first quarter. GSA Capital Partners LLP now owns 298,336 shares of the credit services provider’s stock valued at $3,079,000 after purchasing an additional 147,733 shares during the period. Mackenzie Financial Corp purchased a new position in shares of LendingClub in the first quarter worth $211,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in LendingClub by 9.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 257,845 shares of the credit services provider’s stock valued at $2,661,000 after buying an additional 21,256 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in LendingClub by 100.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 48,625 shares of the credit services provider’s stock valued at $502,000 after buying an additional 24,363 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

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.