LendingClub (NYSE:LC) had its price objective decreased by BTIG Research from $30.00 to $23.00 in a research report released on Monday morning, The Fly reports. BTIG Research currently has a buy rating on the credit services provider’s stock.

A number of other brokerages have also recently commented on LC. Zacks Investment Research cut shares of LendingClub from a buy rating to a hold rating in a report on Saturday. Maxim Group set a $23.00 target price on shares of LendingClub and gave the company a buy rating in a report on Wednesday, August 7th. ValuEngine raised shares of LendingClub from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley cut their target price on shares of LendingClub from $23.75 to $17.00 and set an equal weight rating on the stock in a report on Friday, July 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. LendingClub has an average rating of Buy and an average price target of $21.00.

Shares of NYSE LC traded up $0.35 during midday trading on Monday, hitting $12.24. The company’s stock had a trading volume of 2,815 shares, compared to its average volume of 633,862. The business’s fifty day simple moving average is $13.27 and its two-hundred day simple moving average is $8.44. The company has a debt-to-equity ratio of 2.11, a current ratio of 7.06 and a quick ratio of 5.81. LendingClub has a 1 year low of $10.89 and a 1 year high of $19.17. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -35.26 and a beta of 1.60.

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

In other news, CFO Valerie Kay sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $24.53, for a total transaction of $245,300.00. Also, President Steven Allocca acquired 14,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $13.92 per share, with a total value of $194,880.00. The disclosure for this purchase can be found here. Insiders sold a total of 28,563 shares of company stock valued at $510,603 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of LC. Jane Street Group LLC raised its stake in LendingClub by 166.5% in the second quarter. Jane Street Group LLC now owns 209,145 shares of the credit services provider’s stock worth $686,000 after buying an additional 130,681 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in LendingClub during the second quarter valued at about $150,000. Marshall Wace LLP purchased a new stake in LendingClub during the first quarter valued at about $509,000. Harbourvest Partners LLC boosted its position in LendingClub by 3.5% during the second quarter. Harbourvest Partners LLC now owns 2,567,206 shares of the credit services provider’s stock valued at $8,420,000 after buying an additional 87,000 shares during the period. Finally, BlackRock Inc. boosted its position in LendingClub by 1.8% during the second quarter. BlackRock Inc. now owns 24,733,574 shares of the credit services provider’s stock valued at $81,126,000 after buying an additional 425,690 shares during the period.

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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