LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng Sells 22,000 Shares of Stock

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

LendingClub Trading Up 1.2 %

Shares of NYSE LC opened at $15.68 on Wednesday. LendingClub Co. has a 12-month low of $5.05 and a 12-month high of $15.84. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 34.09 and a beta of 2.01. The stock’s 50 day simple moving average is $12.28 and its 200 day simple moving average is $10.55.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $190.40 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of LendingClub

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in LendingClub by 5.3% in the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock valued at $168,000 after acquiring an additional 1,000 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of LendingClub by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock valued at $2,562,000 after purchasing an additional 1,445 shares during the period. ProShare Advisors LLC increased its position in shares of LendingClub by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after purchasing an additional 1,536 shares during the period. SG Americas Securities LLC increased its position in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,732 shares during the period. Finally, Swiss National Bank increased its position 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 purchasing an additional 2,100 shares during the period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased 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. Compass Point increased their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.38.

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.