LendingClub (NYSE:LC) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “LendingClub Corporation provides internet financial services. The Company offers online marketplace for loan approval, pricing, servicing and support operations as well as regulatory and legal framework which connects borrowers and investors. LendingClub Corporation is headquartered in San Francisco, California. “

A number of other equities analysts also recently commented on the company. Morgan Stanley decreased their target price on LendingClub from $14.00 to $8.00 and set an equal weight rating for the company in a report on Tuesday, April 14th. Credit Suisse Group reduced their price target on LendingClub from $19.00 to $15.00 and set a neutral rating on the stock in a research note on Wednesday, May 6th. Maxim Group cut LendingClub from a buy rating to a hold rating in a research note on Tuesday, April 14th. Wedbush reaffirmed an outperform rating and issued a $8.00 price target (down from $25.00) on shares of LendingClub in a research note on Monday, June 1st. Finally, ValuEngine raised LendingClub from a hold rating to a buy rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. LendingClub presently has an average rating of Hold and a consensus target price of $11.84.

Shares of LendingClub stock opened at $4.58 on Friday. The company has a quick ratio of 3.78, a current ratio of 5.78 and a debt-to-equity ratio of 2.03. The company has a market cap of $320.01 million, a PE ratio of -3.75 and a beta of 1.17. The business has a 50 day moving average of $5.45 and a 200 day moving average of $9.24. LendingClub has a 52 week low of $4.32 and a 52 week high of $16.50.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, May 5th. The credit services provider reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.40). The business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $174.66 million. LendingClub had a negative net margin of 8.36% and a negative return on equity of 2.94%. LendingClub’s revenue was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) EPS. On average, research analysts anticipate that LendingClub will post -1.47 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Bank of Montreal Can boosted its position in shares of LendingClub by 27.4% during the fourth quarter. Bank of Montreal Can now owns 8,515 shares of the credit services provider’s stock valued at $108,000 after buying an additional 1,832 shares during the last quarter. Rhumbline Advisers boosted its position in shares of LendingClub by 2.0% during the fourth quarter. Rhumbline Advisers now owns 105,447 shares of the credit services provider’s stock valued at $1,331,000 after buying an additional 2,096 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of LendingClub by 69.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,234 shares of the credit services provider’s stock valued at $41,000 after buying an additional 2,151 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of LendingClub by 6.3% during the first quarter. Joel Isaacson & Co. LLC now owns 41,795 shares of the credit services provider’s stock valued at $328,000 after buying an additional 2,467 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of LendingClub by 2.4% during the first quarter. Swiss National Bank now owns 119,660 shares of the credit services provider’s stock valued at $939,000 after buying an additional 2,800 shares during the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

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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