StockNews.com Downgrades LendingClub (NYSE:LC) to Sell

LendingClub (NYSE:LC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other equities research analysts have also issued reports on LC. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group upped their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research note on Thursday. Compass Point upped their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted 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 research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Stock Performance

NYSE:LC opened at $13.59 on Friday. The stock has a 50-day simple moving average of $11.69 and a two-hundred day simple moving average of $10.02. The firm has a market capitalization of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04. LendingClub has a 52-week low of $4.73 and a 52-week high of $15.52.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. Equities analysts forecast that LendingClub will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the transaction, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 51,703 shares of company stock worth $562,705. Insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Several institutional investors have recently modified their holdings of LC. Vanguard Group Inc. raised its stake in shares of LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after acquiring an additional 336,827 shares during the period. Capstone Investment Advisors LLC purchased a new stake in LendingClub in the 1st quarter worth about $164,000. GSA Capital Partners LLP lifted its stake in LendingClub by 38.2% in the first quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock worth $1,264,000 after purchasing an additional 39,733 shares during the last quarter. Empowered Funds LLC boosted its position in shares of LendingClub by 8.2% during the first quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock valued at $2,766,000 after buying an additional 23,790 shares during the period. Finally, Swiss National Bank boosted its position in shares of LendingClub by 1.0% during the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock valued at $1,902,000 after buying an additional 2,100 shares during the period. 74.08% of the stock is owned by institutional investors.

About LendingClub

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.