LendingClub (NYSE:LC) Cut to “Sell” at ValuEngine

Share on StockTwits

ValuEngine lowered shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research report released on Friday morning, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of LendingClub from a buy rating to a hold rating in a research report on Tuesday, May 14th. Wedbush raised shares of LendingClub from a neutral rating to an outperform rating and boosted their target price for the company from $3.75 to $5.00 in a research report on Wednesday, May 8th. Finally, Maxim Group reissued a buy rating and issued a $4.50 target price on shares of LendingClub in a research report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. LendingClub presently has an average rating of Hold and an average price target of $4.85.

LC stock opened at $2.84 on Friday. 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 has a one year low of $2.46 and a one year high of $4.55. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -40.57 and a beta of 1.57.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, May 7th. The credit services provider reported ($0.03) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.03). The firm had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $170.45 million. LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, sell-side analysts anticipate that LendingClub will post -0.04 earnings per share for the current fiscal year.

In related news, insider Valerie Kay sold 9,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $3.10, for a total value of $29,450.00. Following the completion of the transaction, the insider now owns 241,851 shares of the company’s stock, valued at $749,738.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary G. Meeker sold 100,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were 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 $3,517,237. 4.20% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Wiley BROS. Aintree Capital LLC acquired a new position in LendingClub during the fourth quarter worth about $26,000. Telemus Capital LLC acquired a new position in LendingClub during the fourth quarter worth about $51,000. SG Americas Securities LLC acquired a new position in LendingClub during the first quarter worth about $60,000. United Services Automobile Association raised its stake in LendingClub by 21.3% during the fourth quarter. United Services Automobile Association now owns 70,999 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 12,474 shares in the last quarter. Finally, Banque Pictet & Cie SA acquired a new position in LendingClub during the first quarter worth about $204,000. 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.

See Also: What is the QQQ ETF?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.