Canaccord Genuity reaffirmed their hold rating on shares of LendingClub Corporation (NYSE:LC) in a research report report published on Monday. The brokerage currently has a $7.00 price objective on the credit services provider’s stock.

A number of other equities research analysts have also commented on the company. Vetr lowered LendingClub Corporation from a strong-buy rating to a hold rating and set a $6.55 price target on the stock. in a research report on Wednesday, August 9th. Zacks Investment Research lowered LendingClub Corporation from a hold rating to a sell rating in a research report on Tuesday, October 10th. ValuEngine lowered LendingClub Corporation from a hold rating to a sell rating in a research report on Monday, October 2nd. Citigroup Inc. restated a neutral rating and set a $6.50 price target (up from $6.00) on shares of LendingClub Corporation in a research report on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $6.50 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $6.89.

Shares of LendingClub Corporation (NYSE LC) traded up $0.03 on Monday, hitting $4.32. The stock had a trading volume of 7,101,812 shares, compared to its average volume of 6,072,386. LendingClub Corporation has a fifty-two week low of $4.20 and a fifty-two week high of $6.78. The company has a quick ratio of 18.90, a current ratio of 19.05 and a debt-to-equity ratio of 3.87.

LendingClub Corporation (NYSE:LC) last issued its earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). LendingClub Corporation had a negative return on equity of 9.11% and a negative net margin of 17.19%. The business had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. During the same period in the prior year, the firm posted ($0.09) EPS. LendingClub Corporation’s quarterly revenue was up 35.0% compared to the same quarter last year. equities research analysts expect that LendingClub Corporation will post -0.14 earnings per share for the current year.

WARNING: “LendingClub Corporation (LC) Earns Hold Rating from Canaccord Genuity” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://theolympiareport.com/2017/11/10/lendingclub-corporation-lc-earns-hold-rating-from-canaccord-genuity.html.

In related news, COO Sameer Gulati sold 8,351 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $5.64, for a total transaction of $47,099.64. Following the sale, the chief operating officer now owns 296,221 shares of the company’s stock, valued at approximately $1,670,686.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel T. Ciporin acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $5.92 per share, for a total transaction of $59,200.00. Following the purchase, the director now directly owns 1,014,809 shares in the company, valued at approximately $6,007,669.28. The disclosure for this purchase can be found here. Insiders sold a total of 213,116 shares of company stock worth $1,288,135 over the last 90 days. 11.40% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC raised its stake in shares of LendingClub Corporation by 5.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 458,850 shares of the credit services provider’s stock valued at $2,794,000 after purchasing an additional 23,225 shares during the period. JPMorgan Chase & Co. raised its stake in shares of LendingClub Corporation by 19.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,982,614 shares of the credit services provider’s stock valued at $24,851,000 after purchasing an additional 637,465 shares during the period. American International Group Inc. raised its stake in shares of LendingClub Corporation by 8.1% in the 3rd quarter. American International Group Inc. now owns 213,283 shares of the credit services provider’s stock valued at $1,299,000 after purchasing an additional 15,947 shares during the period. ING Groep NV raised its stake in shares of LendingClub Corporation by 11.0% in the 3rd quarter. ING Groep NV now owns 111,282 shares of the credit services provider’s stock valued at $678,000 after purchasing an additional 11,000 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of LendingClub Corporation by 33.4% in the 3rd quarter. SG Americas Securities LLC now owns 60,673 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 15,207 shares during the period. 87.80% of the stock is currently owned by institutional investors and hedge funds.

About LendingClub Corporation

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.

Analyst Recommendations for LendingClub Corporation (NYSE:LC)

Receive News & Ratings for LendingClub Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.