LendingClub (NYSE:LC) Given Buy Rating at Maxim Group

LendingClub (NYSE:LC)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a research report issued on Thursday, AnalystRatings.com reports. They currently have a $23.00 price target on the credit services provider’s stock. Maxim Group’s price objective indicates a potential upside of 55.83% from the stock’s current price.

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

NYSE LC traded up $0.11 during trading hours on Thursday, hitting $14.76. The company 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 company has a market cap of $1.27 billion, a PE ratio of -42.17 and a beta of 1.60. The business has a 50 day moving average of $12.90 and a 200-day moving average of $9.68.

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

In related news, Director Susan C. Athey sold 6,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $15.04, for a total transaction of $90,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Valerie Kay sold 10,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $24.53, for a total transaction of $245,300.00. Insiders have sold 28,563 shares of company stock valued at $510,603 in the last quarter. Insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. increased its holdings in LendingClub by 35.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 25,692,140 shares of the credit services provider’s stock valued at $84,270,000 after buying an additional 6,690,424 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in LendingClub in the third quarter valued at about $83,981,000. Nuveen Asset Management LLC purchased a new position in LendingClub in the second quarter valued at about $4,253,000. Rothschild & Co Wealth Management UK Ltd purchased a new position in LendingClub in the second quarter valued at about $1,624,000. Finally, BlackRock Inc. increased its holdings in LendingClub by 1.8% in the second quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock valued at $81,126,000 after buying an additional 425,690 shares in the last quarter.

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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