LendingClub (NYSE:LC) Sets New 52-Week Low at $11.15

LendingClub Co. (NYSE:LCGet Rating)’s share price reached a new 52-week low on Friday . The stock traded as low as $11.15 and last traded at $11.22, with a volume of 28611 shares. The stock had previously closed at $11.56.

Analyst Ratings Changes

A number of brokerages recently commented on LC. StockNews.com upgraded shares of LendingClub from a “hold” rating to a “buy” rating in a research note on Wednesday. Wedbush upped their price target on shares of LendingClub to $20.00 in a research note on Tuesday, July 26th. Finally, Credit Suisse Group decreased their price target on shares of LendingClub from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, LendingClub presently has a consensus rating of “Moderate Buy” and an average target price of $37.40.

LendingClub Trading Down 3.4 %

The company has a market cap of $1.16 billion, a P/E ratio of 4.23 and a beta of 2.01. The stock’s 50 day moving average is $13.90 and its 200-day moving average is $14.10. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.11.

LendingClub (NYSE:LCGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The credit services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. LendingClub had a net margin of 24.75% and a return on equity of 27.96%. The firm had revenue of $330.10 million for the quarter, compared to analysts’ expectations of $298.97 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s quarterly revenue was up 61.5% on a year-over-year basis. Research analysts anticipate that LendingClub Co. will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In related news, insider Annie Armstrong sold 2,027 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $15.00, for a total value of $30,405.00. Following the completion of the transaction, the insider now directly owns 101,601 shares of the company’s stock, valued at $1,524,015. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Annie Armstrong sold 2,027 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $15.00, for a total value of $30,405.00. Following the completion of the transaction, the insider now directly owns 101,601 shares of the company’s stock, valued at $1,524,015. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ronnie Momen sold 33,726 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $13.86, for a total value of $467,442.36. Following the completion of the sale, the insider now owns 166,594 shares of the company’s stock, valued at $2,308,992.84. The disclosure for this sale can be found here. Insiders sold a total of 43,083 shares of company stock valued at $598,332 in the last three months. 3.22% of the stock is currently owned by corporate insiders.

Institutional Trading of LendingClub

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in LendingClub by 154.0% in the first quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock valued at $31,408,000 after purchasing an additional 1,206,662 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of LendingClub by 725.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,130,300 shares of the credit services provider’s stock worth $17,836,000 after purchasing an additional 993,300 shares during the period. Point72 Asset Management L.P. lifted its holdings in LendingClub by 98.9% in the second quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock valued at $23,257,000 after acquiring an additional 989,200 shares during the period. Bank of Montreal Can acquired a new position in shares of LendingClub during the 2nd quarter worth approximately $12,641,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of LendingClub by 348.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,166,354 shares of the credit services provider’s stock worth $18,405,000 after buying an additional 905,980 shares during the period. 81.80% of the stock is currently owned by institutional investors.

LendingClub Company Profile

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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