LendingClub Co. (NYSE:LC) Receives Average Recommendation of "Moderate Buy" from Brokerages

LendingClub Co. (NYSE:LC - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.38.

LC has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $16.00 target price (down from $17.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Piper Sandler restated an "overweight" rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th.

Insider Buying and Selling

In other news, General Counsel Jordan Cheng sold 7,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $12.88 per share, with a total value of $257,600.00. Following the acquisition, the director now owns 148,018 shares in the company, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 58,000 shares of company stock valued at $875,940. Company insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State Street Corp increased its holdings in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider's stock valued at $44,541,000 after buying an additional 82,315 shares during the period. Wellington Management Group LLP increased its stake in LendingClub by 353.1% in the fourth 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 during the period. Driehaus Capital Management LLC increased its stake in LendingClub by 229.1% in the fourth 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 during the period. Geode Capital Management LLC lifted its stake in LendingClub by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider's stock worth $29,265,000 after purchasing an additional 42,429 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in LendingClub by 196.5% during the fourth 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 purchasing an additional 1,412,568 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Performance

Shares of NYSE LC traded up $0.25 during mid-day trading on Tuesday, reaching $12.78. The company had a trading volume of 1,686,744 shares, compared to its average volume of 2,097,147. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75. The stock's 50 day moving average is $15.12 and its 200-day moving average is $13.91. The stock has a market capitalization of $1.45 billion, a PE ratio of 28.40 and a beta of 2.00.

LendingClub Company Profile

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.