LendingClub Co. (NYSE:LC - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.00.
Several analysts recently commented on LC shares. Piper Sandler reissued an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $16.00 target price (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th.
Read Our Latest Report on LendingClub
LendingClub Stock Down 1.8 %
Shares of LendingClub stock traded down $0.21 during trading on Friday, reaching $11.44. 689,630 shares of the stock were exchanged, compared to its average volume of 1,565,919. The stock's fifty day moving average is $13.37 and its 200 day moving average is $13.91. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 25.42 and a beta of 2.07.
Insider Buying and Selling
In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the completion of the purchase, the director now owns 148,018 shares of the company's stock, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,184 shares in the company, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,000 shares of company stock valued at $606,660 in the last three months. 3.31% of the stock is owned by corporate insiders.
Institutional Trading of LendingClub
A number of hedge funds have recently made changes to their positions in LC. State Street Corp boosted its holdings in shares of LendingClub by 2.2% during the third quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock valued at $44,541,000 after acquiring an additional 82,315 shares during the period. Wellington Management Group LLP lifted its position in shares of LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after acquiring an additional 2,961,050 shares in the last quarter. Driehaus Capital Management LLC grew its stake in LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock valued at $58,103,000 after acquiring an additional 2,498,318 shares in the last quarter. Geode Capital Management LLC lifted its position in LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after buying an additional 42,429 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock valued at $34,505,000 after buying an additional 1,412,568 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.
About LendingClub
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Get Free ReportLendingClub 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.
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