LendingClub (NYSE:LC) Cut to “Sell” at StockNews.com

LendingClub (NYSE:LC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently issued reports on LC. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of LendingClub in a report on Wednesday, January 31st. Piper Sandler began coverage on shares of LendingClub in a research note on Tuesday, November 28th. They issued an “overweight” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.08.

LendingClub Stock Up 3.8 %

Shares of LC stock opened at $8.56 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.89. The firm’s 50-day moving average is $8.33 and its 200-day moving average is $7.19. The stock has a market cap of $945.11 million, a price-to-earnings ratio of 23.78 and a beta of 1.98. LendingClub has a 52-week low of $4.73 and a 52-week high of $10.92.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $185.60 million for the quarter, compared to analysts’ expectations of $182.13 million. LendingClub had a net margin of 4.50% and a return on equity of 3.21%. LendingClub’s quarterly revenue was down 29.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. Sell-side analysts predict that LendingClub will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LC. Envestnet Asset Management Inc. acquired a new position in shares of LendingClub during the 1st quarter worth approximately $241,000. Advisor Group Holdings Inc. grew its position in shares of LendingClub by 27.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 20,242 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,334 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of LendingClub by 84.1% during the 1st quarter. JPMorgan Chase & Co. now owns 549,930 shares of the credit services provider’s stock worth $8,677,000 after purchasing an additional 251,160 shares in the last quarter. Raymond James & Associates acquired a new position in shares of LendingClub during the 1st quarter worth approximately $438,000. Finally, PNC Financial Services Group Inc. grew its position in shares of LendingClub by 367.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares in the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.

About LendingClub

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.