LendingClub Corp (NYSE:LC) Director John J. Mack purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $3.83 per share, for a total transaction of $191,500.00. Following the purchase, the director now owns 1,563,673 shares of the company’s stock, valued at approximately $5,988,867.59. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of LendingClub Corp (NYSE:LC) opened at $3.35 on Friday. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52. The firm has a market capitalization of $1,398.89, a PE ratio of -9.05 and a beta of 1.38. LendingClub Corp has a fifty-two week low of $3.29 and a fifty-two week high of $6.56.
LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $156.50 million during the quarter, compared to the consensus estimate of $157.55 million. LendingClub had a negative net margin of 26.77% and a negative return on equity of 7.00%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. equities analysts anticipate that LendingClub Corp will post -0.05 EPS for the current year.
Several research firms recently commented on LC. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target (down previously from $7.00) on shares of LendingClub in a research note on Friday, December 8th. Canaccord Genuity cut their price target on LendingClub from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Compass Point upgraded LendingClub from a “sell” rating to a “neutral” rating in a research note on Friday, December 8th. Guggenheim cut LendingClub from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Friday. Finally, Stifel Nicolaus cut their price target on LendingClub from $5.00 to $4.50 and set a “hold” rating on the stock in a research note on Friday, December 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.24.
A number of institutional investors have recently made changes to their positions in LC. Quantbot Technologies LP bought a new stake in LendingClub in the third quarter valued at about $103,000. Xact Kapitalforvaltning AB bought a new stake in LendingClub in the fourth quarter valued at about $117,000. Phoenix Investment Adviser LLC bought a new stake in LendingClub in the fourth quarter valued at about $124,000. MANA Advisors LLC bought a new stake in LendingClub in the fourth quarter valued at about $126,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in LendingClub in the fourth quarter valued at about $134,000. 85.73% of the stock is owned by hedge funds and other institutional investors.
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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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