LendingClub Co. (NYSE:LC) General Counsel Sells $326,260.00 in Stock

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

LendingClub Price Performance

NYSE:LC opened at $15.13 on Friday. The stock has a market cap of $1.70 billion, a P/E ratio of 32.88 and a beta of 2.01. The company has a fifty day moving average price of $12.44 and a 200 day moving average price of $10.63. LendingClub Co. has a one year low of $5.38 and a one year high of $16.16.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that LendingClub Co. will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

LC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wedbush raised their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Maxim Group lifted their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, 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, October 24th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.38.

Hedge Funds Weigh In On LendingClub

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft bought a new stake in LendingClub in the second quarter valued at $600,000. GSA Capital Partners LLP grew its holdings in shares of LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after purchasing an additional 68,791 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of LendingClub by 813.3% during the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock worth $2,077,000 after purchasing an additional 161,837 shares in the last quarter. Interval Partners LP lifted its holdings in LendingClub by 54.3% during the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after purchasing an additional 174,130 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in LendingClub by 45.0% in the second quarter. Assenagon Asset Management S.A. now owns 689,028 shares of the credit services provider’s stock valued at $5,829,000 after buying an additional 213,823 shares in the last quarter. 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.