LendingClub (NYSE:LC) Hits New 52-Week High - Should You Buy?

Shares of LendingClub Co. (NYSE:LC - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $17.15 and last traded at $16.70, with a volume of 158093 shares trading hands. The stock had previously closed at $16.49.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Maxim Group increased their price target on LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th. StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised LendingClub from a "market perform" rating to an "outperform" rating and increased their price target for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.38.

LendingClub Stock Performance

The stock's 50-day moving average is $13.63 and its 200 day moving average is $11.21. The firm has a market cap of $1.87 billion, a P/E ratio of 36.17 and a beta of 2.01.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. The firm had revenue of $201.90 million during the quarter, compared to analysts' expectations of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The company's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, research analysts anticipate that LendingClub Co. will post 0.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,273 shares of the company's stock, valued at approximately $19,941,774.97. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, the general counsel now directly owns 89,385 shares of the company's stock, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,500 shares of company stock worth $996,940. Corporate insiders own 3.31% of the company's stock.

Institutional Trading of LendingClub

Several institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in LendingClub by 5.3% in the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider's stock valued at $168,000 after buying an additional 1,000 shares during the period. FMR LLC raised its stake in LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after buying an additional 1,424 shares during the period. The Manufacturers Life Insurance Company raised its stake in LendingClub by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider's stock valued at $2,562,000 after buying an additional 1,445 shares during the period. SG Americas Securities LLC raised its stake in LendingClub by 16.3% in the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock valued at $104,000 after buying an additional 1,732 shares during the period. Finally, AlphaMark Advisors LLC bought a new stake in LendingClub in the third quarter valued at approximately $32,000. 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.