LendingClub Corp (LC) is Downgraded by Pacific Crest to Sector Weight

LendingClub Corp (LC) was Downgraded by Pacific Crest to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Pacific Crest advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on LendingClub Corp. LendingClub Corp was Downgraded by Guggenheim to ” Neutral” on May 10, 2016. LendingClub Corp was Downgraded by Sterne Agee CRT to ” Underperform” on May 9, 2016. Shares were Reiterated by FBR Capital on May 9, 2016 to “Outperform” and Lowered the Price Target to $ 7 from a previous price target of $10 .

On the company’s financial health, LendingClub Corp reported $0.05 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.05. The company had revenue of $151.30 million for the quarter, compared to analysts expectations of $147.90 million. The company’s revenue was up 86.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

LendingClub Corp opened for trading at $6.77 and hit $7.14 on the upside on Friday, eventually ending the session at $7.1, with a gain of 3.65% or 0.25 points. The heightened volatility saw the trading volume jump to 1,37,96,149 shares. Company has a market cap of $2,708 M.

In a different news, on Feb 19, 2016, Simon Williams (director) purchased 64,000 shares at $8.28 per share price. According to the SEC, on Jan 15, 2016, John Macilwaine (Chief Technology Officer) sold 25,000 shares at $9.11 per share price. On Jan 8, 2016, Scott Sanborn (Chief Mrktg & Optg Officer) sold 70,000 shares at $10.30 per share price, according to the Form-4 filing with the securities and exchange commission.

LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Company’s online marketplace connects borrowers. Lending Club’s marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Company’s standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement and are available through the Company’s Website. The custom program loans include small business loans super prime consumer loans education and patient finance loans and personal loans. The Company’s technology platform supports its marketplace and makes available loan products to investor channels.

LendingClub Corp

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