LendingClub Co. (NYSE:LC - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $11.88, but opened at $12.22. LendingClub shares last traded at $12.59, with a volume of 466,736 shares traded.
A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their price target on LendingClub from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Wedbush raised their target price on shares of LendingClub from $11.00 to $14.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Compass Point upped their price target on shares of LendingClub from $13.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded shares of LendingClub from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $11.50 to $15.00 in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, LendingClub currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.57.
Check Out Our Latest Research Report on LendingClub
The business has a fifty day moving average of $11.15 and a 200 day moving average of $9.66. The firm has a market cap of $1.40 billion, a P/E ratio of 37.03 and a beta of 2.04.
LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm had revenue of $187.20 million during the quarter, compared to analysts' expectations of $177.03 million. During the same period in the previous year, the business posted $0.09 earnings per share. The company's revenue for the quarter was down 19.5% compared to the same quarter last year. Research analysts expect that LendingClub Co. will post 0.38 EPS for the current year.
In related news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 51,703 shares of company stock valued at $562,705 in the last ninety days. 3.31% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC lifted its stake in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider's stock worth $66,000 after purchasing an additional 2,328 shares during the last quarter. nVerses Capital LLC bought a new position in LendingClub in the second quarter valued at about $71,000. Innealta Capital LLC acquired a new position in LendingClub during the second quarter worth about $72,000. SG Americas Securities LLC lifted its holdings in shares of LendingClub by 16.3% in the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock worth $104,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of LendingClub in the first quarter worth about $129,000. Institutional investors and hedge funds own 74.08% of the company's stock.
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.
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