LendingClub (NYSE:LC) Sets New 1-Year High – Time to Buy?

by · The Markets Daily

LendingClub Co. (NYSE:LC – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.72 and last traded at $15.60, with a volume of 1493168 shares trading hands. The stock had previously closed at $14.00.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Compass Point increased their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Maxim Group boosted their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group raised their target price on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.38.

Get Our Latest Stock Analysis on LC

LendingClub Price Performance

The company has a market cap of $1.73 billion, a P/E ratio of 33.54 and a beta of 2.01. The stock has a 50-day moving average of $12.10 and a 200 day moving average of $10.38.

LendingClub (NYSE:LC – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Sell-side analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

Insider Buying and Selling

In related news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the transaction, the director now owns 203,348 shares in the company, valued at $2,920,077.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John C. Morris sold 2,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the transaction, the director now owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,500 shares of company stock valued at $591,800 over the last 90 days. 3.31% of the stock is owned by insiders.

Institutional Trading of LendingClub

Institutional investors have recently modified their holdings of the business. Aigen Investment Management LP lifted its holdings in shares of LendingClub by 18.5% during the 3rd quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock worth $361,000 after acquiring an additional 4,917 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in LendingClub by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after buying an additional 68,791 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in LendingClub in the 3rd quarter worth $236,000. SteelPeak Wealth LLC purchased a new stake in LendingClub in the third quarter worth $562,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of LendingClub by 120.3% during the third 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 purchasing an additional 828,958 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

About LendingClub

(Get Free Report)

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.

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