LendingClub (NYSE:LC) Trading 5% Higher

LendingClub Co. (NYSE:LC)’s share price shot up 5% during trading on Monday . The company traded as high as $11.59 and last traded at $11.58. 459,106 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,397,657 shares. The stock had previously closed at $11.03.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LC shares. Keefe, Bruyette & Woods upped their target price on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their target price on 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 set a $13.00 price objective (up previously from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.07.

LendingClub Stock Up 3.3 %

The company has a market cap of $1.27 billion, a P/E ratio of 32.44 and a beta of 2.04. The business has a fifty day simple moving average of $11.07 and a two-hundred day simple moving average of $9.49.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. On average, equities analysts predict that LendingClub Co. will post 0.38 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 34,703 shares of company stock worth $374,175 over the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC grew its stake in LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,328 shares during the last quarter. nVerses Capital LLC acquired a new stake in LendingClub in the second quarter valued at approximately $71,000. Innealta Capital LLC purchased a new stake in shares of LendingClub during the 2nd quarter valued at $72,000. SG Americas Securities LLC boosted its position in shares of LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,732 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in LendingClub during the 1st quarter worth $129,000. Hedge funds and other institutional investors 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.