LendingClub Corporation (LC) Posts Earnings Results, Meets Estimates

LendingClub Corporation (NYSE:LC) released its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06), Briefing.com reports. The business had revenue of $139.60 million for the quarter, compared to analysts’ expectations of $134.02 million. LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. LendingClub Corporation’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share.

LendingClub Corporation (NYSE:LC) traded up 2.23% during trading on Friday, reaching $5.96. The company’s stock had a trading volume of 12,698,049 shares. The stock’s market cap is $2.45 billion. The company’s 50 day moving average price is $5.45 and its 200-day moving average price is $5.62. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78.

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In related news, insider Bradley Coleman sold 29,906 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $5.71, for a total transaction of $170,763.26. Following the sale, the insider now owns 76,876 shares in the company, valued at approximately $438,961.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas W. Casey sold 5,254 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $5.65, for a total value of $29,685.10. Following the sale, the chief financial officer now owns 31,203 shares in the company, valued at approximately $176,296.95. The disclosure for this sale can be found here. Insiders have sold a total of 329,846 shares of company stock worth $1,882,204 in the last 90 days. 11.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Malaga Cove Capital LLC raised its stake in shares of LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock worth $147,000 after buying an additional 1,000 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of LendingClub Corporation during the first quarter worth $1,696,000. Nisa Investment Advisors LLC raised its stake in shares of LendingClub Corporation by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock worth $191,000 after buying an additional 31,840 shares in the last quarter. Telemus Capital LLC raised its stake in shares of LendingClub Corporation by 1.4% in the first quarter. Telemus Capital LLC now owns 309,545 shares of the credit services provider’s stock worth $1,699,000 after buying an additional 4,420 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of LendingClub Corporation by 122.9% in the first quarter. Fox Run Management L.L.C. now owns 39,000 shares of the credit services provider’s stock valued at $214,000 after buying an additional 21,500 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

LC has been the topic of a number of research reports. Zacks Investment Research upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Tuesday, June 6th. Vetr upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.10 price objective on the stock in a research report on Wednesday, May 24th. BTIG Research restated a “buy” rating and set a $9.00 price objective on shares of LendingClub Corporation in a research report on Monday, May 8th. Finally, Canaccord Genuity restated a “hold” rating and set a $7.00 price objective on shares of LendingClub Corporation in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.78.

About LendingClub Corporation

LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.

Earnings History for LendingClub Corporation (NYSE:LC)

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