LendingClub (NYSE:LC) Rating Reiterated by Maxim Group

LendingClub (NYSE:LC)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $23.00 price target on the credit services provider’s stock. Maxim Group’s target price would suggest a potential upside of 55.83% from the stock’s current price.

Several other equities analysts have also weighed in on the company. ValuEngine upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BTIG Research cut their price target on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Zacks Investment Research lowered LendingClub from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Finally, Morgan Stanley cut their price target on LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.80.

Shares of LendingClub stock traded up $0.11 on Thursday, hitting $14.76. The company’s stock had a trading volume of 505,843 shares, compared to its average volume of 551,475. The company has a debt-to-equity ratio of 2.11, a quick ratio of 5.81 and a current ratio of 7.06. LendingClub has a 1 year low of $10.89 and a 1 year high of $18.85. The firm has a fifty day moving average price of $12.90 and a 200-day moving average price of $9.68. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -42.17 and a beta of 1.60.

LendingClub (NYSE:LC) last announced its quarterly earnings results 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. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The firm had revenue of $204.90 million during the quarter, compared to analyst estimates of $204.63 million. During the same quarter in the previous year, the business earned $0.03 EPS. LendingClub’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts forecast that LendingClub will post -0.13 EPS for the current year.

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In other news, President Steven Allocca acquired 14,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $13.92 per share, for a total transaction of $194,880.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan C. Athey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $15.04, for a total value of $90,240.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,563 shares of company stock worth $510,603. 4.20% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in shares of LendingClub by 166.5% during the 2nd quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock worth $686,000 after purchasing an additional 130,681 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of LendingClub by 165.1% during the 2nd quarter. Bank of America Corp DE now owns 461,358 shares of the credit services provider’s stock worth $1,514,000 after purchasing an additional 287,353 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of LendingClub during the 3rd quarter worth approximately $2,056,000. UBS Asset Management Americas Inc. boosted its holdings in shares of LendingClub by 9.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 223,465 shares of the credit services provider’s stock worth $733,000 after purchasing an additional 19,328 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of LendingClub during the 2nd quarter worth approximately $150,000.

About LendingClub

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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