Q1 2018 EPS Estimates for LendingClub Corp (LC) Raised by Analyst

LendingClub Corp (NYSE:LC) – Research analysts at Wedbush lifted their Q1 2018 earnings estimates for LendingClub in a research report issued on Wednesday. Wedbush analyst H. Coffey now forecasts that the credit services provider will post earnings of ($0.01) per share for the quarter, up from their prior forecast of ($0.02). Wedbush currently has a “Hold” rating and a $6.00 target price on the stock.

A number of other equities analysts also recently weighed in on the company. BidaskClub downgraded LendingClub from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Vetr downgraded LendingClub from a “buy” rating to a “hold” rating and set a $6.55 price target for the company. in a research report on Monday, September 4th. Zacks Investment Research downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Maxim Group assumed coverage on LendingClub in a research report on Tuesday, November 7th. They set a “buy” rating and a $8.00 price target for the company. Finally, Needham & Company LLC assumed coverage on LendingClub in a research report on Wednesday, November 1st. They set a “buy” rating and a $7.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.95.

LendingClub (NYSE:LC) opened at $3.59 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 16.90 and a current ratio of 18.02. LendingClub has a 12-month low of $3.29 and a 12-month high of $6.78.

In other news, CEO Scott Sanborn sold 47,273 shares of LendingClub stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $4.23, for a total transaction of $199,964.79. Following the sale, the chief executive officer now directly owns 1,034,734 shares of the company’s stock, valued at $4,376,924.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas W. Casey purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $4.17 per share, for a total transaction of $41,700.00. The disclosure for this purchase can be found here. Insiders sold 88,765 shares of company stock worth $458,573 over the last ninety days. 9.72% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of LC. Teachers Advisors LLC increased its holdings in LendingClub by 4.9% in the first quarter. Teachers Advisors LLC now owns 567,651 shares of the credit services provider’s stock worth $3,116,000 after purchasing an additional 26,710 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of LendingClub by 142.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,672,729 shares of the credit services provider’s stock valued at $20,163,000 after acquiring an additional 2,159,066 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of LendingClub by 4.3% during the second quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock valued at $200,000 after acquiring an additional 1,500 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of LendingClub by 118.4% during the second quarter. Great West Life Assurance Co. Can now owns 40,409 shares of the credit services provider’s stock valued at $222,000 after buying an additional 21,909 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of LendingClub by 363.6% during the second quarter. Global X Management Co. LLC now owns 57,467 shares of the credit services provider’s stock valued at $317,000 after buying an additional 45,071 shares during the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

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LendingClub Company Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History and Estimates for LendingClub (NYSE:LC)

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