Traders Purchase Large Volume of LendingClub Call Options (NYSE:LC)

LendingClub Co. (NYSE:LC) was the recipient of unusually large options trading on Thursday. Investors bought 5,279 call options on the company. This represents an increase of 334% compared to the typical volume of 1,215 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LC shares. Compass Point increased their target price on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a report on Thursday. Jefferies Financial Group raised their price target on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and lifted their target price 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LendingClub

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its position in LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the period. Assenagon Asset Management S.A. grew its position in LendingClub by 120.3% in the 3rd 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 last quarter. Vanguard Group Inc. increased its holdings in shares of LendingClub by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after purchasing an additional 336,827 shares during the period. American Century Companies Inc. raised its position 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 valued at $14,032,000 after buying an additional 329,279 shares during the last quarter. Finally, Interval Partners LP bought a new stake in shares of LendingClub in the first quarter valued at about $2,821,000. 74.08% of the stock is owned by institutional investors.

LendingClub Trading Up 16.8 %

LendingClub stock traded up $2.09 on Thursday, reaching $14.55. 4,497,262 shares of the stock were exchanged, compared to its average volume of 1,422,259. LendingClub has a twelve month low of $4.73 and a twelve month high of $15.52. The firm has a fifty day moving average price of $11.58 and a two-hundred day moving average price of $9.96. The stock has a market cap of $1.62 billion, a PE ratio of 42.94 and a beta of 2.04.

LendingClub (NYSE:LC) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. Equities analysts anticipate that LendingClub will post 0.38 EPS for the current fiscal year.

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.