LendingClub (NYSE:LC) Stock Price Down 6.3% - Time to Sell?

LendingClub Co. (NYSE:LC - Get Free Report) shares dropped 6.3% during mid-day trading on Tuesday . The stock traded as low as $15.91 and last traded at $16.14. Approximately 798,485 shares changed hands during trading, a decline of 37% from the average daily volume of 1,261,927 shares. The stock had previously closed at $17.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Wedbush upped their price objective on LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Piper Sandler upped their price target on LendingClub from $15.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.63.

LendingClub Price Performance

The stock has a market cap of $1.83 billion, a PE ratio of 35.46 and a beta of 2.03. The business has a fifty day moving average of $15.90 and a 200-day moving average of $12.65.

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

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value of $274,040.00. Following the completion of the sale, the chief executive officer now owns 1,312,184 shares of the company's stock, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of the business's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,500 shares of company stock worth $1,158,610. 3.31% of the stock is owned by corporate insiders.

Institutional Trading of LendingClub

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in LendingClub in the third quarter valued at $32,000. FMR LLC lifted its holdings in shares of LendingClub by 32.1% in the 3rd 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. Blue Trust Inc. boosted its stake in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock worth $83,000 after buying an additional 5,247 shares during the last quarter. Alpha Cubed Investments LLC acquired a new stake in LendingClub during the third quarter worth about $170,000. Finally, Princeton Capital Management LLC purchased a new position in LendingClub during the third quarter valued at approximately $171,000. Institutional investors and hedge funds own 74.08% of the company's stock.

About LendingClub

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.