LendingClub Corp (LC) reported quarterly earnings results on Monday, Aug-8-2016. The company reported $-0.09 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $-0.02. The company posted revenue of $102.39 million in the period, compared to analysts expectations of $100.42 million. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on LendingClub Corp. LendingClub Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Jun 8, 2016. Shares were Downgraded by FBR Capital on Jun 8, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 4 from a previous price target of $7 .LendingClub Corp was Resumed by Morgan Stanley to “Equal-Weight” on May 31, 2016.
LendingClub Corp opened for trading at $4.63 and hit $4.79 on the upside on Friday, eventually ending the session at $4.75, with a gain of 3.26% or 0.15 points. The heightened volatility saw the trading volume jump to 72,88,743 shares. Company has a market cap of $1,813 M.
In a different news, on Jul 28, 2016, Sameer Gulati (Chief Operations Officer) sold 5,489 shares at $4.60 per share price. According to the SEC, on Feb 19, 2016, Simon Williams (director) purchased 64,000 shares at $8.28 per share price. On Jan 15, 2016, John Macilwaine (Chief Technology Officer) sold 25,000 shares at $9.11 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.