LendingClub (NYSE:LC) Trading Down 3.2%

LendingClub Co. (NYSE:LC) shares dropped 3.2% on Monday . The stock traded as low as $7.83 and last traded at $7.84. Approximately 335,762 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,403,990 shares. The stock had previously closed at $8.10.

Analyst Ratings Changes

LC has been the subject of a number of recent research reports. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.30.

LendingClub Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $8.20 and a 200 day moving average price of $7.56. The stock has a market cap of $867.85 million, a PE ratio of 22.50 and a beta of 1.98.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. LendingClub had a net margin of 4.50% and a return on equity of 3.21%. The company had revenue of $185.60 million during the quarter, compared to analyst estimates of $182.13 million. During the same period in the prior year, the business posted $0.19 EPS. The firm’s revenue was down 29.3% compared to the same quarter last year. Analysts expect that LendingClub Co. will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On LendingClub

A number of institutional investors have recently bought and sold shares of the stock. Miracle Mile Advisors LLC increased its stake in shares of LendingClub by 9.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 24,134 shares of the credit services provider’s stock worth $211,000 after acquiring an additional 2,000 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in LendingClub by 40.7% during the third quarter. Asset Management One Co. Ltd. now owns 8,217 shares of the credit services provider’s stock valued at $50,000 after buying an additional 2,377 shares during the last quarter. Swiss National Bank increased its holdings in shares of LendingClub by 1.8% during the third quarter. Swiss National Bank now owns 236,260 shares of the credit services provider’s stock valued at $1,441,000 after acquiring an additional 4,200 shares in the last quarter. Principal Financial Group Inc. raised its holdings in LendingClub by 39.4% in the third quarter. Principal Financial Group Inc. now owns 15,761 shares of the credit services provider’s stock worth $96,000 after buying an additional 4,455 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of LendingClub by 363.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after purchasing an additional 5,489 shares during the last quarter. 74.08% of the stock is owned by institutional investors.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.