LendingClub Co. (NYSE:LC) Receives $16.38 Average PT from Brokerages

Shares of LendingClub Co. (NYSE:LC - Get Free Report) have earned an average rating of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat 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 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.38.

LC has been the subject of several recent analyst reports. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Maxim Group boosted their price objective on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a report on Wednesday. Finally, Wedbush upped their target price on LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th.

LendingClub Stock Down 0.7 %

Shares of LC opened at $14.33 on Friday. The business's 50-day moving average price is $16.36 and its 200-day moving average price is $13.54. LendingClub has a twelve month low of $7.48 and a twelve month high of $18.75. The stock has a market cap of $1.61 billion, a PE ratio of 31.83 and a beta of 2.03.

Insider Activity

In related news, General Counsel Jordan Cheng sold 22,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $15.84, for a total value of $269,280.00. Following the transaction, the chief executive officer now owns 1,329,184 shares of the company's stock, valued at approximately $21,054,274.56. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,000 shares of company stock valued at $1,122,710. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingClub

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider's stock valued at $9,584,000 after buying an additional 148,685 shares during the period. Captrust Financial Advisors purchased a new position in shares of LendingClub in the 3rd quarter worth about $237,000. JPMorgan Chase & Co. raised its position in shares of LendingClub by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after purchasing an additional 45,307 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider's stock worth $2,448,000 after purchasing an additional 68,791 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of LendingClub by 153.2% in the 3rd quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider's stock worth $1,815,000 after purchasing an additional 96,053 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.

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.