ValuEngine upgraded shares of LendingClub (NYSE:LC) from a buy rating to a strong-buy rating in a research report report published on Monday morning, ValuEngine reports.

A number of other research analysts have also weighed in on the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Wedbush reaffirmed an outperform rating on shares of Purple Innovation in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $23.75.

LendingClub stock traded up $0.44 during midday trading on Monday, reaching $16.48. The stock had a trading volume of 809,400 shares, compared to its average volume of 492,351. LendingClub has a 12 month low of $12.30 and a 12 month high of $22.75. The business has a 50-day moving average of $3.74. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -235.43 and a beta of 1.59. The company has a debt-to-equity ratio of 2.27, a current ratio of 4.88 and a quick ratio of 3.93.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.15) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.15). LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The business had revenue of $174.40 million for the quarter, compared to analysts’ expectations of $170.45 million. During the same period in the previous year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that LendingClub will post -0.04 earnings per share for the current fiscal year.

In other LendingClub news, insider Valerie Kay sold 9,500 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $3.24, for a total value of $30,780.00. Following the completion of the sale, the insider now owns 218,177 shares of the company’s stock, valued at $706,893.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary G. Meeker sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $3.57, for a total value of $357,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,045,833 shares of company stock valued at $3,517,142. 4.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LC. ARK Investment Management LLC lifted its position in LendingClub by 22.4% in the first quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock valued at $66,290,000 after purchasing an additional 3,926,187 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in LendingClub by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,088,195 shares of the credit services provider’s stock valued at $34,423,000 after purchasing an additional 177,193 shares during the last quarter. Geode Capital Management LLC lifted its position in LendingClub by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 4,048,074 shares of the credit services provider’s stock valued at $10,646,000 after purchasing an additional 392,103 shares during the last quarter. Northern Trust Corp lifted its position in LendingClub by 0.7% in the fourth quarter. Northern Trust Corp now owns 4,024,271 shares of the credit services provider’s stock valued at $10,584,000 after purchasing an additional 27,375 shares during the last quarter. Finally, Norges Bank bought a new stake in LendingClub in the fourth quarter valued at approximately $7,608,000. 87.87% of the stock is owned by institutional investors and hedge funds.

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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