LendingClub Co. (NYSE:LC) Short Interest Update

LendingClub Co. (NYSE:LC) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,690,000 shares, an increase of 7.6% from the December 15th total of 4,360,000 shares. Based on an average daily volume of 1,920,000 shares, the short-interest ratio is presently 2.4 days.

LendingClub Stock Up 2.1 %

LC stock traded up $0.35 during trading on Friday, reaching $16.68. The company’s stock had a trading volume of 755,411 shares, compared to its average volume of 1,737,184. The company’s fifty day moving average is $16.16 and its 200-day moving average is $13.10. The company has a market capitalization of $1.87 billion, a P/E ratio of 36.25 and a beta of 2.03. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Analysts anticipate that LendingClub will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Maxim Group upped their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Keefe, Bruyette & Woods boosted their price objective 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. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price target on LendingClub from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the firm’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 sale, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of LendingClub stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,500 shares of company stock worth $1,158,610. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several hedge funds have recently modified their holdings of the stock. AlphaMark Advisors LLC bought a new stake in LendingClub in the 3rd quarter valued at $32,000. FMR LLC increased its holdings in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. Blue Trust Inc. lifted its position 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 in the last quarter. Hsbc Holdings PLC boosted its stake in LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after buying an additional 4,640 shares during the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in LendingClub during the 3rd quarter valued at approximately $170,000. 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.