LendingClub (NYSE:LC) Shares Up 4.9% – Here’s What Happened

LendingClub Co. (NYSE:LC) shares traded up 4.9% during trading on Tuesday . The company traded as high as $13.53 and last traded at $13.39. 1,342,866 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 1,396,214 shares. The stock had previously closed at $12.77.

Analyst Ratings Changes

Several equities research analysts have issued reports on LC shares. Compass Point lifted their price objective on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lifted their price target on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Wedbush raised their price objective on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.57.

LendingClub Stock Performance

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 38.93 and a beta of 2.04. The stock’s fifty day moving average is $11.38 and its two-hundred day moving average is $9.82.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Sell-side analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.25, for a total transaction of $174,250.00. Following the sale, the chief executive officer now directly owns 1,383,362 shares in the company, valued at approximately $14,179,460.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 51,703 shares of company stock valued at $562,705. Company insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

Several hedge funds have recently modified their holdings of LC. Wellington Management Group LLP grew its stake in shares of LendingClub by 176.1% in 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 purchasing an additional 857,371 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after buying an additional 336,827 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of LendingClub during the 1st quarter valued at $164,000. GSA Capital Partners LLP boosted its stake in shares of LendingClub by 38.2% during the 1st quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider’s stock worth $1,264,000 after acquiring an additional 39,733 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of LendingClub by 8.2% in the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock worth $2,766,000 after acquiring an additional 23,790 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

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.