LendingClub (NYSE:LC) Trading Up 7.1% - Here's Why

Shares of LendingClub Co. (NYSE:LC - Get Free Report) were up 7.1% during mid-day trading on Friday . The company traded as high as $14.05 and last traded at $14.08. Approximately 804,096 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,152,804 shares. The stock had previously closed at $13.15.

Analyst Ratings Changes

LC has been the subject of a number of research reports. Compass Point lifted their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Piper Sandler reissued an "overweight" rating and set a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Wedbush boosted their target price on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $16.00 price target (down from $17.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, LendingClub currently has a consensus rating of "Moderate Buy" and an average target price of $16.38.

LendingClub Trading Up 0.9 %

The stock has a fifty day moving average price of $15.70 and a 200 day moving average price of $13.78. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 31.53 and a beta of 2.00.

Insider Activity

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $12.88 per share, with a total value of $257,600.00. Following the transaction, the director now directly owns 148,018 shares in the company, valued at approximately $1,906,471.84. This represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the transaction, the chief executive officer now owns 1,295,184 shares of the company's stock, valued at approximately $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $777,240 over the last 90 days. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingClub

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