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

Zacks Investment Research cut shares of LendingClub (NYSE:LC) from a hold rating to a sell rating in a research note released 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 research analysts have also issued reports on the company. Keefe, Bruyette & Woods decreased their price target on LendingClub from $10.00 to $7.00 and set a market perform rating for the company in a research note on Thursday, May 7th. Maxim Group lowered LendingClub from a buy rating to a hold rating in a research report on Tuesday, April 14th. 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 research report on Tuesday, April 14th. UBS Group decreased their target price on LendingClub from $10.00 to $6.00 and set a neutral rating for the company in a research report on Wednesday, May 13th. Finally, ValuEngine raised LendingClub from a hold rating to a buy rating in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $11.84.

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

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.40). LendingClub had a negative return on equity of 2.94% and a negative net margin of 8.36%. The business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $174.66 million. During the same period in the prior year, the business posted ($0.13) earnings per share. LendingClub’s revenue was down 31.1% on a year-over-year basis. As a group, sell-side analysts forecast that LendingClub will post -1.47 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LC. Asset Management One Co. Ltd. bought a new position in shares of LendingClub in the 1st quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of LendingClub by 69.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,234 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 2,151 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in LendingClub during the 4th quarter worth $54,000. Nisa Investment Advisors LLC grew its stake in LendingClub by 1,022.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,124 shares of the credit services provider’s stock worth $64,000 after buying an additional 7,400 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in LendingClub by 60.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 10,430 shares of the credit services provider’s stock worth $82,000 after buying an additional 3,948 shares during the last quarter. 90.58% of the stock is owned by hedge funds and other institutional investors.

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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