LendingClub (NYSE:LC) Upgraded at StockNews.com

LendingClub (NYSE:LC - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Friday.

LC has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Piper Sandler restated an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, LendingClub currently has an average rating of "Moderate Buy" and an average price target of $16.00.

LendingClub Stock Performance

LendingClub stock traded up $0.84 during trading hours on Friday, reaching $9.40. 553,408 shares of the stock were exchanged, compared to its average volume of 1,611,346. The stock has a market cap of $1.07 billion, a P/E ratio of 20.80 and a beta of 2.09. The firm's 50 day moving average is $11.81 and its 200 day moving average is $13.81. LendingClub has a 52-week low of $7.48 and a 52-week high of $18.75.

Insider Buying and Selling

In related news, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $12.88 per share, for a total transaction of $257,600.00. Following the acquisition, the director now owns 148,018 shares in the company, valued at $1,906,471.84. This represents a 15.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the transaction, the chief executive officer now directly owns 1,295,184 shares of the company's stock, valued at $17,821,731.84. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.31% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LC. Wellington Management Group LLP grew its holdings 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 valued at $9,584,000 after buying an additional 148,685 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after buying an additional 45,307 shares during the last quarter. Captrust Financial Advisors acquired a new position in LendingClub in the third quarter valued at $237,000. Raymond James Financial Inc. acquired a new stake in LendingClub during the fourth quarter worth about $1,696,000. Finally, Victory Capital Management Inc. raised its holdings in shares of LendingClub by 301.0% in the 4th quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock worth $885,000 after purchasing an additional 41,048 shares during the period. Hedge funds and other institutional investors 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.