LendingClub (NYSE:LC) Sets New 1-Year High – Here’s What Happened

LendingClub Co. (NYSE:LC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.74 and last traded at $15.74, with a volume of 291208 shares trading hands. The stock had previously closed at $15.49.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Piper Sandler restated an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Maxim Group raised their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Trading Down 0.9 %

The stock has a market cap of $1.75 billion, a P/E ratio of 33.63 and a beta of 2.01. The firm’s fifty day moving average is $12.36 and its 200 day moving average is $10.60.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate 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 net margin of 6.85% and a return on equity of 4.02%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Research analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,325,579.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,325,579.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the completion of the transaction, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of LendingClub by 32.1% during 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 in the last quarter. Quantbot Technologies LP lifted its position in shares of LendingClub by 153.2% during the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock worth $1,815,000 after purchasing an additional 96,053 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in LendingClub by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 318,222 shares of the credit services provider’s stock valued at $3,637,000 after buying an additional 15,378 shares during the period. Alpha DNA Investment Management LLC acquired a new position in LendingClub in the third quarter valued at approximately $411,000. Finally, Algert Global LLC lifted its holdings in LendingClub by 109.9% in the third quarter. Algert Global LLC now owns 307,133 shares of the credit services provider’s stock valued at $3,511,000 after buying an additional 160,828 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.