LendingClub Target of Unusually Large Options Trading (NYSE:LC)

LendingClub Co. (NYSE:LC) was the target of unusually large options trading activity on Thursday. Traders bought 5,279 call options on the stock. This represents an increase of 334% compared to the typical daily volume of 1,215 call options.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of LendingClub in a research report on Thursday. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $15.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group lifted their price objective on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and a consensus target price of $14.29.

LendingClub Trading Up 10.8 %

Shares of NYSE LC opened at $13.81 on Friday. The firm’s 50-day moving average price is $11.64 and its 200-day moving average price is $9.98. LendingClub has a 1-year low of $4.73 and a 1-year high of $15.52. The firm has a market capitalization of $1.53 billion, a P/E ratio of 40.62 and a beta of 2.04.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts forecast that LendingClub will post 0.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the sale, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at $15,041,067.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 51,703 shares of company stock worth $562,705 in the last ninety days. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of LendingClub by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider’s stock worth $100,610,000 after purchasing an additional 175,706 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 300,536 shares in the last quarter. American Century Companies Inc. raised its position in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock valued at $14,032,000 after buying an additional 329,279 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after acquiring an additional 828,958 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 857,371 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

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.