LendingClub Co. (NYSE:LC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of LendingClub Co. (NYSE:LC) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several equities research analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th.

LendingClub Trading Down 0.0 %

Shares of LC stock opened at $11.09 on Friday. The firm has a fifty day simple moving average of $13.43 and a two-hundred day simple moving average of $13.88. LendingClub has a 12 month low of $7.48 and a 12 month high of $18.75. The firm has a market capitalization of $1.26 billion, a PE ratio of 24.63 and a beta of 2.07.

Insiders Place Their Bets

In other LendingClub news, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the transaction, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,000 shares of company stock valued at $606,660. Insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds have recently made changes to their positions in LC. State Street Corp increased its holdings in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock worth $44,541,000 after acquiring an additional 82,315 shares during the last quarter. Wellington Management Group LLP boosted its position in LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock worth $61,515,000 after purchasing an additional 2,961,050 shares during the period. Driehaus Capital Management LLC increased its stake in shares of LendingClub by 229.1% in the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock worth $58,103,000 after purchasing an additional 2,498,318 shares in the last quarter. Geode Capital Management LLC raised its position in shares of LendingClub by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock valued at $29,265,000 after purchasing an additional 42,429 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of LendingClub by 196.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock valued at $34,505,000 after buying an additional 1,412,568 shares in 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.