LendingClub Target of Unusually Large Options Trading (NYSE:LC)

LendingClub Co. (NYSE:LC - Get Free Report) saw some unusual options trading on Thursday. Investors bought 5,279 call options on the company. This represents an increase of approximately 334% compared to the average daily volume of 1,215 call options.

LendingClub Stock Performance

LC stock traded up $1.36 during trading on Thursday, hitting $13.82. 8,585,624 shares of the company's stock traded hands, compared to its average volume of 1,442,105. The business has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $9.96. LendingClub has a 52 week low of $4.73 and a 52 week high of $15.52. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 42.94 and a beta of 2.04.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.09. The business had revenue of $187.20 million for the quarter, compared to the consensus estimate of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company's quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Research analysts forecast that LendingClub will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LC. Piper Sandler restated an "overweight" rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research note on Thursday. StockNews.com raised shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods upgraded LendingClub from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.29.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the sale, the chief executive officer now directly owns 1,383,362 shares of the company's stock, valued at $14,179,460.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 51,703 shares of company stock worth $562,705 over the last quarter. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LC. Baader Bank Aktiengesellschaft bought a new position in LendingClub during the 2nd quarter valued at about $600,000. Wellington Management Group LLP lifted its holdings in shares of LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider's stock worth $11,749,000 after buying an additional 857,371 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of LendingClub during the first quarter valued at $164,000. Vanguard Group Inc. increased its stake in shares of LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider's stock valued at $98,502,000 after buying an additional 336,827 shares during the period. Finally, Interval Partners LP lifted its stake in LendingClub by 54.3% in the second quarter. Interval Partners LP now owns 495,039 shares of the credit services provider's stock worth $4,188,000 after acquiring an additional 174,130 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.