LendingClub (NYSE:LC) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

LC has been the subject of a number of other reports. Zacks Investment Research lowered shares of LendingClub from a buy rating to a hold rating in a research note on Thursday, August 8th. Morgan Stanley reduced 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. Finally, Maxim Group set a $23.00 target price on shares of LendingClub and gave the company a buy rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $20.63.

LendingClub stock traded up $0.14 during midday trading on Tuesday, reaching $14.86. 12,413 shares of the stock traded hands, compared to its average volume of 531,649. 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 firm has a fifty day moving average price of $13.92 and a two-hundred day moving average price of $6.80. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -42.43 and a beta of 1.60. LendingClub has a fifty-two week low of $12.30 and a fifty-two week high of $20.15.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, August 6th. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $190.80 million during the quarter, compared to analyst estimates of $192.04 million. LendingClub had a negative net margin of 9.14% and a negative return on equity of 2.67%. LendingClub’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Analysts anticipate that LendingClub will post -0.13 earnings per share for the current year.

In other LendingClub news, Director Susan C. Athey sold 6,000 shares of the business’s 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 filing with the SEC, which is available through the SEC website. Also, insider Timothy Bogan sold 10,463 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total transaction of $150,039.42. Following the sale, the insider now owns 59,541 shares in the company, valued at $853,817.94. The disclosure for this sale can be found here. Insiders have sold a total of 26,163 shares of company stock valued at $271,231 over the last three months. 4.20% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC bought a new stake in shares of LendingClub in the 2nd quarter worth approximately $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of LendingClub in the 2nd quarter worth approximately $54,000. SG Americas Securities LLC bought a new stake in shares of LendingClub in the 1st quarter worth approximately $60,000. Mizuho Securities Co. Ltd. bought a new stake in shares of LendingClub in the 2nd quarter worth approximately $66,000. Finally, Prudential Financial Inc. raised its holdings in shares of LendingClub by 9.0% in the 2nd quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 1,930 shares in the last quarter.

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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