Insider Selling: LendingClub Co. (NYSE:LC) Director Sells 2,500 Shares of Stock

LendingClub Co. (NYSE:LC) Director John C. Morris sold 2,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

LendingClub Price Performance

Shares of NYSE:LC opened at $14.18 on Friday. The firm has a market capitalization of $1.59 billion, a P/E ratio of 30.83 and a beta of 2.04. The company’s fifty day moving average price is $11.92 and its 200 day moving average price is $10.18. LendingClub Co. has a 12 month low of $5.05 and a 12 month high of $15.52.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 4.08% and a net margin of 6.85%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the prior year, the firm earned $0.05 EPS. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that LendingClub Co. will post 0.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wedbush increased their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Compass Point upped their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.38.

Institutional Investors Weigh In On LendingClub

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in LendingClub by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after acquiring an additional 336,827 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of LendingClub in the first quarter worth $164,000. GSA Capital Partners LLP raised its position in LendingClub by 38.2% during the first quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock valued at $1,264,000 after buying an additional 39,733 shares during the period. Empowered Funds LLC lifted its stake in LendingClub by 8.2% in the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock worth $2,766,000 after acquiring an additional 23,790 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of LendingClub by 1.0% during the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock valued at $1,902,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

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.