LendingClub Co. (NYSE:LC) General Counsel Sells $326,260.00 in Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

LendingClub Stock Performance

Shares of LendingClub stock traded up $0.19 during trading on Tuesday, reaching $15.68. 1,972,078 shares of the company’s stock were exchanged, compared to its average volume of 1,494,351. The firm’s 50-day moving average price is $12.28 and its 200 day moving average price is $10.55. LendingClub Co. has a 1-year low of $5.05 and a 1-year high of $15.84. The company has a market cap of $1.76 billion, a P/E ratio of 33.70 and a beta of 2.01.

LendingClub (NYSE:LC) last posted its earnings results 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 firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, equities research analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LC. Assenagon Asset Management S.A. grew its stake in shares of LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares during the period. American Century Companies Inc. boosted its holdings in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares during the period. Interval Partners LP bought a new stake in LendingClub in the 1st quarter worth approximately $2,821,000. Dimensional Fund Advisors LP increased its holdings in shares of LendingClub by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after buying an additional 300,536 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of LendingClub in the 2nd quarter worth approximately $2,412,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on LC shares. Maxim Group raised their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Wedbush raised their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

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.