LendingClub (NYSE:LC) Shares Gap Down to $13.90

LendingClub Co. (NYSE:LC – Get Rating)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.90, but opened at $13.39. LendingClub shares last traded at $13.37, with a volume of 22,407 shares traded.

LC has been the topic of several recent research reports. Credit Suisse Group lowered their price objective on LendingClub from $34.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. Zacks Investment Research raised LendingClub from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Janney Montgomery Scott raised LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, January 12th. Wedbush reduced their target price on LendingClub from $35.00 to $30.00 in a research note on Monday, February 7th. Finally, StockNews.com started coverage on LendingClub in a research note on Thursday, March 31st. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $38.83.

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 12.43 and a beta of 1.95. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $15.12.

LendingClub (NYSE:LC – Get Rating) last announced its earnings results on Wednesday, April 27th. The credit services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.13. LendingClub had a return on equity of 26.12% and a net margin of 10.63%. The company had revenue of $289.50 million during the quarter, compared to analysts’ expectations of $262.43 million. During the same period last year, the business posted ($0.49) EPS. LendingClub’s revenue for the quarter was up 173.6% on a year-over-year basis. On average, sell-side analysts expect that LendingClub Co. will post 1.58 earnings per share for the current year.

In related news, CFO Thomas W. Casey acquired 2,750 shares of the firm’s stock in a transaction dated Friday, February 11th. The stock was acquired at an average price of $17.98 per share, for a total transaction of $49,445.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Annie Armstrong sold 3,317 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $15.47, for a total value of $51,313.99. The disclosure for this sale can be found here. Insiders sold a total of 25,449 shares of company stock valued at $454,188 in the last quarter. Company insiders own 3.17% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in LendingClub during the fourth quarter worth approximately $27,000. Daiwa Securities Group Inc. increased its position in LendingClub by 45.8% during the first quarter. Daiwa Securities Group Inc. now owns 4,232 shares of the credit services provider’s stock worth $67,000 after buying an additional 1,329 shares during the period. Emerald Advisers LLC acquired a new position in LendingClub during the fourth quarter worth approximately $87,000. Royal Bank of Canada increased its position in LendingClub by 116.2% during the second quarter. Royal Bank of Canada now owns 7,450 shares of the credit services provider’s stock worth $135,000 after buying an additional 4,004 shares during the period. Finally, SG Americas Securities LLC acquired a new position in LendingClub during the first quarter worth approximately $143,000. 80.27% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Company Profile (NYSE:LC)

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.

Further Reading