LendingClub Corp. (LC) Director Vii Lp Canaan Sells 933,675 Shares
LendingClub Corp. (NYSE:LC) Director Vii Lp Canaan sold 933,675 shares of the stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $5.67, for a total transaction of $5,293,937.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of LendingClub Corp. (NYSE:LC) opened at 5.66 on Thursday. The stock’s 50 day moving average is $5.49 and its 200-day moving average is $5.12. LendingClub Corp. has a 52 week low of $3.44 and a 52 week high of $14.40. The company’s market cap is $2.23 billion.
LendingClub Corp. (NYSE:LC) last issued its earnings results on Monday, November 7th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. LendingClub Corp. had a negative net margin of 21.75% and a negative return on equity of 6.68%. The firm earned $112.60 million during the quarter, compared to analyst estimates of $103.31 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. LendingClub Corp.’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that LendingClub Corp. will post ($0.12) earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the company. First Republic Investment Management Inc. bought a new position in shares of LendingClub Corp. during the first quarter worth $535,000. BNP Paribas Arbitrage SA raised its position in shares of LendingClub Corp. by 1,384.5% in the second quarter. BNP Paribas Arbitrage SA now owns 144,557 shares of the company’s stock worth $622,000 after buying an additional 134,819 shares in the last quarter. River & Mercantile Asset Management LLP raised its position in shares of LendingClub Corp. by 132.2% in the second quarter. River & Mercantile Asset Management LLP now owns 510,300 shares of the company’s stock worth $2,191,000 after buying an additional 290,550 shares in the last quarter. Telemus Capital LLC raised its position in shares of LendingClub Corp. by 73.5% in the second quarter. Telemus Capital LLC now owns 288,275 shares of the company’s stock worth $1,240,000 after buying an additional 122,155 shares in the last quarter. Finally, Seven Bridges Advisors LLC raised its position in shares of LendingClub Corp. by 53.9% in the second quarter. Seven Bridges Advisors LLC now owns 32,776 shares of the company’s stock worth $141,000 after buying an additional 11,478 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.
LC has been the topic of several research reports. Goldman Sachs Group Inc. restated a “neutral” rating and set a $5.00 price objective on shares of LendingClub Corp. in a research report on Monday, November 7th. Zacks Investment Research upgraded shares of LendingClub Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Wedbush initiated coverage on shares of LendingClub Corp. in a research report on Monday, October 10th. They set an “underperform” rating and a $3.75 price objective on the stock. Oppenheimer Holdings Inc. initiated coverage on shares of LendingClub Corp. in a research report on Thursday, August 4th. They set a “market perform” rating on the stock. Finally, Morgan Stanley restated an “equal weight” rating on shares of LendingClub Corp. in a research report on Monday, September 12th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.86.
About LendingClub Corp.
LendingClub Corporation (Lending Club) 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 is only available on a limited basis to large institutional investors.
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