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

LendingClub Co. (NYSE:LC) hit a new 52-week high on Tuesday . The stock traded as high as $15.74 and last traded at $15.74, with a volume of 291208 shares changing hands. The stock had previously closed at $15.49.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Jefferies Financial Group upped their target price on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and upped their target price for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. 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 note on Friday, October 25th. One equities research 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, LendingClub currently has an average rating of “Moderate Buy” and an average target price of $15.38.

LendingClub Stock Down 0.9 %

The company’s fifty day moving average is $12.36 and its 200 day moving average is $10.60. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 33.63 and a beta of 2.01.

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 business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share. On average, equities research analysts forecast that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John C. Morris sold 2,500 shares of the firm’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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the sale, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at approximately $19,941,774.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,500 shares of company stock worth $996,940 over the last quarter. 3.31% of the stock is currently owned by insiders.

Institutional Trading of LendingClub

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after acquiring an additional 828,958 shares during the period. American Century Companies Inc. increased its position in 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 worth $14,032,000 after acquiring an additional 329,279 shares during the period. Interval Partners LP bought a new position in LendingClub during the first quarter worth about $2,821,000. Dimensional Fund Advisors LP increased its position in LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after acquiring an additional 300,536 shares during the period. Finally, Marshall Wace LLP bought a new position in LendingClub during the second quarter worth about $2,412,000. Institutional investors and hedge funds 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.