Shares of LendingClub Co. (NYSE:LC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 806,174 shares traded hands during mid-day trading, a decline of 46% from the previous session's volume of 1,502,282 shares.The stock last traded at $17.89 and had previously closed at $17.91.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on LC. Piper Sandler reissued an "overweight" rating and set a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Maxim Group upped their price target on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods raised their price objective on LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.
View Our Latest Report on LendingClub
LendingClub Stock Performance
The company's 50 day simple moving average is $14.73 and its 200 day simple moving average is $11.77. The stock has a market cap of $2.00 billion, a PE ratio of 38.48 and a beta of 2.02.
LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. Equities research analysts expect that LendingClub Co. will post 0.47 earnings per share for the current year.
Insiders Place Their Bets
In other news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the transaction, the general counsel now directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. This represents a 19.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the transaction, the chief executive officer now directly owns 1,356,273 shares in the company, valued at approximately $15,041,067.57. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,073,100 over the last quarter. 3.31% of the stock is currently owned by company insiders.
Institutional Trading of LendingClub
A number of institutional investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC bought a new stake in LendingClub in the third quarter valued at $32,000. FMR LLC grew 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 worth $67,000 after purchasing an additional 1,424 shares during the period. nVerses Capital LLC purchased a new stake in shares of LendingClub in the 2nd quarter worth about $71,000. Innealta Capital LLC purchased a new stake in LendingClub in the second quarter worth about $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock valued at $83,000 after purchasing an additional 5,247 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.
About LendingClub
(
Get Free Report)
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.
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