LendingClub (NYSE:LC) Hits New 12-Month High at $10.99

LendingClub Co. (NYSE:LC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.99 and last traded at $10.94, with a volume of 446450 shares changing hands. The stock had previously closed at $10.44.

Analyst Upgrades and Downgrades

LC has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. BTIG Research initiated coverage on shares of LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of LendingClub in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.29.

LendingClub Trading Up 0.5 %

The company has a market capitalization of $1.21 billion, a PE ratio of 31.94 and a beta of 2.06. The stock’s 50-day moving average is $8.97 and its two-hundred day moving average is $8.63.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, equities research analysts forecast that LendingClub Co. will post 0.27 EPS for the current fiscal year.

Insider Activity

In other LendingClub news, Director Erin Selleck sold 4,083 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $8.88, for a total transaction of $36,257.04. Following the transaction, the director now directly owns 54,571 shares in the company, valued at approximately $484,590.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of LendingClub by 176.1% during the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after purchasing an additional 857,371 shares during the last quarter. G2 Investment Partners Management LLC bought a new stake in shares of LendingClub in the 4th quarter valued at about $1,758,000. Verition Fund Management LLC bought a new stake in shares of LendingClub in the 4th quarter valued at about $6,115,000. Capstone Investment Advisors LLC bought a new stake in shares of LendingClub in the 1st quarter valued at about $164,000. Finally, Ursa Fund Management LLC bought a new stake in shares of LendingClub in the 4th quarter valued at about $743,000. Hedge funds and other institutional investors 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.