LendingClub (NYSE:LC) Stock Rating Reaffirmed by Maxim Group

Maxim Group reissued their buy rating on shares of LendingClub (NYSE:LC) in a report released on Thursday morning, AnalystRatings.com reports. Maxim Group currently has a $23.00 target price on the credit services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of LendingClub from $23.75 to $17.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. BTIG Research decreased their target price on shares of LendingClub from $30.00 to $23.00 and set a buy rating on the stock in a research report on Monday, October 14th. Zacks Investment Research cut shares of LendingClub from a buy rating to a hold rating in a research report on Saturday, October 12th. Finally, ValuEngine upgraded shares of LendingClub from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $20.80.

Shares of LendingClub stock traded up $0.11 on Thursday, hitting $14.76. 505,843 shares of the company traded hands, compared to its average volume of 551,475. The firm’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $9.68. The company has a current ratio of 7.06, a quick ratio of 5.81 and a debt-to-equity ratio of 2.11. The company has a market cap of $1.27 billion, a P/E ratio of -42.17 and a beta of 1.60. LendingClub has a 12-month low of $10.89 and a 12-month high of $18.85.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, November 5th. The credit services provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The firm had revenue of $204.90 million for the quarter, compared to analysts’ expectations of $204.63 million. LendingClub had a negative net margin of 5.91% and a negative return on equity of 1.02%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Analysts predict that LendingClub will post -0.13 earnings per share for the current year.

In other LendingClub news, CFO Valerie Kay sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $24.53, for a total value of $245,300.00. Also, President Steven Allocca acquired 14,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $13.92 per share, for a total transaction of $194,880.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,563 shares of company stock worth $510,603. 4.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in shares of LendingClub in the third quarter valued at about $33,000. SG Americas Securities LLC increased its position in shares of LendingClub by 1,312.2% in the third quarter. SG Americas Securities LLC now owns 164,158 shares of the credit services provider’s stock valued at $2,147,000 after acquiring an additional 152,534 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of LendingClub in the third quarter valued at about $83,981,000. Brighton Jones LLC purchased a new position in shares of LendingClub in the third quarter valued at about $930,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of LendingClub in the third quarter valued at about $2,056,000.

LendingClub Company Profile

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

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