FY2017 EPS Estimates for LendingClub Corporation Reduced by Wedbush (LC)

LendingClub Corporation (NYSE:LC) – Investment analysts at Wedbush reduced their FY2017 EPS estimates for shares of LendingClub Corporation in a note issued to investors on Wednesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings of ($0.14) per share for the year, down from their previous estimate of ($0.13). Wedbush has a “Hold” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for LendingClub Corporation’s Q1 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.02 EPS and FY2018 earnings at $0.02 EPS.

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LC has been the subject of a number of other research reports. Zacks Investment Research raised shares of LendingClub Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. BidaskClub lowered shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. cut their price objective on shares of LendingClub Corporation from $7.50 to $6.25 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. ValuEngine lowered shares of LendingClub Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $6.50 price objective on shares of LendingClub Corporation in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.89.

LendingClub Corporation (LC) opened at $4.25 on Monday. The company has a quick ratio of 16.90, a current ratio of 18.02 and a debt-to-equity ratio of 3.52. LendingClub Corporation has a 52-week low of $4.16 and a 52-week high of $6.78.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in LendingClub Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 28,403,846 shares of the credit services provider’s stock valued at $156,505,000 after buying an additional 1,300,878 shares during the period. BlackRock Inc. lifted its holdings in LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock valued at $121,326,000 after buying an additional 21,445,128 shares during the period. Fred Alger Management Inc. lifted its holdings in LendingClub Corporation by 5.8% in the second quarter. Fred Alger Management Inc. now owns 12,337,744 shares of the credit services provider’s stock valued at $67,981,000 after buying an additional 681,192 shares during the period. Jackson Square Partners LLC lifted its holdings in LendingClub Corporation by 23.3% in the second quarter. Jackson Square Partners LLC now owns 9,610,092 shares of the credit services provider’s stock valued at $52,951,000 after buying an additional 1,817,453 shares during the period. Finally, State Street Corp lifted its holdings in LendingClub Corporation by 5.3% in the second quarter. State Street Corp now owns 6,461,593 shares of the credit services provider’s stock valued at $35,602,000 after buying an additional 323,373 shares during the period. Institutional investors own 88.28% of the company’s stock.

In other news, CEO Scott Sanborn sold 18,150 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $6.08, for a total transaction of $110,352.00. Following the transaction, the chief executive officer now directly owns 958,074 shares in the company, valued at $5,825,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas W. Casey sold 7,287 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $6.08, for a total transaction of $44,304.96. Following the transaction, the chief financial officer now owns 39,758 shares in the company, valued at $241,728.64. The disclosure for this sale can be found here. Insiders have sold 166,449 shares of company stock worth $1,018,866 over the last ninety days. Insiders own 11.40% of the company’s stock.

LendingClub Corporation Company Profile

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 and Estimates for LendingClub Corporation (NYSE:LC)

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