Insider Selling: LendingClub Co. (NYSE:LC) General Counsel Sells 22,000 Shares of 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 shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

LendingClub Stock Down 0.9 %

LC opened at $15.54 on Thursday. The company has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $10.60. The stock has a market cap of $1.75 billion, a P/E ratio of 33.63 and a beta of 2.01. LendingClub Co. has a 12 month low of $5.38 and a 12 month high of $16.16.

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. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period in the prior year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts expect that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of LendingClub

Hedge funds have recently bought and sold shares of the stock. AlphaMark Advisors LLC acquired a new stake in shares of LendingClub during the third quarter worth $32,000. EntryPoint Capital LLC raised its stake in shares of LendingClub by 44.9% in the 1st 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 period. FMR LLC lifted its holdings in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of LendingClub during the second quarter worth about $71,000. Finally, Innealta Capital LLC bought a new position in shares of LendingClub during the second quarter worth about $72,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LC. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Maxim Group lifted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush upped their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Compass Point raised their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.38.

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.