LendingClub (NYSE:LC) Earns Buy Rating from Maxim Group

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Maxim Group restated their buy rating on shares of LendingClub (NYSE:LC) in a research report report published on Tuesday morning, AnalystRatings.com reports. Maxim Group currently has a $22.50 price objective on the credit services provider’s stock, up from their prior price objective of $4.50.

LC has been the subject of several other reports. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Finally, Wedbush reaffirmed an outperform rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $23.75.

Shares of LC opened at $16.48 on Tuesday. The company has a quick ratio of 3.93, a current ratio of 4.88 and a debt-to-equity ratio of 2.27. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -47.09 and a beta of 1.59. The business has a fifty day moving average price of $4.01. LendingClub has a twelve month low of $12.30 and a twelve month high of $22.75.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, May 7th. The credit services provider reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). LendingClub had a negative return on equity of 3.19% and a negative net margin of 16.31%. The firm had revenue of $174.40 million during the quarter, compared to the consensus estimate of $170.45 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that LendingClub will post -0.45 EPS for the current year.

In other LendingClub news, insider Valerie Kay sold 9,500 shares of LendingClub stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.98, for a total value of $28,310.00. Following the transaction, the insider now owns 242,981 shares in the company, valued at $724,083.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary G. Meeker sold 100,000 shares of LendingClub stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $3.57, for a total transaction of $357,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,045,833 shares of company stock worth $3,517,142. 4.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its position in LendingClub by 22.4% during the 1st quarter. ARK Investment Management LLC now owns 21,453,157 shares of the credit services provider’s stock worth $66,290,000 after purchasing an additional 3,926,187 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of LendingClub by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,088,195 shares of the credit services provider’s stock valued at $34,423,000 after buying an additional 177,193 shares during the period. Geode Capital Management LLC boosted its stake in shares of LendingClub by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 4,048,074 shares of the credit services provider’s stock valued at $10,646,000 after buying an additional 392,103 shares during the period. Northern Trust Corp boosted its stake in shares of LendingClub by 0.7% during the 4th quarter. Northern Trust Corp now owns 4,024,271 shares of the credit services provider’s stock valued at $10,584,000 after buying an additional 27,375 shares during the period. Finally, Norges Bank acquired a new stake in shares of LendingClub during the 4th quarter valued at $7,608,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

LendingClub Company Profile

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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