Michael P. Zeisser Purchases 20,000 Shares of LendingClub Co. (NYSE:LC) Stock

LendingClub Co. (NYSE:LC - Get Free Report) Director Michael P. Zeisser bought 20,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were acquired at an average cost of $12.88 per share, for a total transaction 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 trade represents a 15.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

LendingClub Stock Performance

LC stock traded down $0.15 during trading on Friday, reaching $13.50. 1,331,666 shares of the company were exchanged, compared to its average volume of 2,426,520. The stock's 50 day moving average price is $15.95 and its 200 day moving average price is $13.69. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75. The company has a market cap of $1.52 billion, a P/E ratio of 29.99 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of research firms have commented on LC. StockNews.com cut LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Maxim Group increased their price objective on LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.38.

Institutional Trading of LendingClub

Several hedge funds and other institutional investors have recently bought and sold shares of LC. FMR LLC lifted its holdings in shares of LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in LendingClub by 0.5% during 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of LendingClub by 7.3% in the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock valued at $475,000 after acquiring an additional 2,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the 4th quarter valued at approximately $45,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

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.