LendingClub (NYSE:LC) Director Sells $46,533.30 in Stock

LendingClub Corporation (NYSE:LC) Director Erin Selleck sold 2,390 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $19.47, for a total transaction of $46,533.30. Following the completion of the transaction, the director owned 76,377 shares of the company’s stock, valued at $1,487,060.19. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

LendingClub Stock Up 0.2%

Shares of LC traded up $0.04 during trading hours on Tuesday, reaching $19.17. 1,012,388 shares of the company traded hands, compared to its average volume of 1,714,087. LendingClub Corporation has a 12 month low of $7.90 and a 12 month high of $19.88. The company’s fifty day moving average price is $17.11 and its two-hundred day moving average price is $15.06. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 21.79 and a beta of 2.14.

LendingClub (NYSE:LC) last released its quarterly earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $107.79 million during the quarter, compared to the consensus estimate of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. LendingClub’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

LendingClub declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 5th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the credit services provider to buy up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LC shares. Keefe, Bruyette & Woods lifted their price target on LendingClub from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Citizens Jmp raised LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Monday, November 10th. Piper Sandler restated an “overweight” rating and set a $20.00 target price (up previously from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of LendingClub in a research note on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of LendingClub from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.57.

Hedge Funds Weigh In On LendingClub

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of LendingClub during the 1st quarter worth $869,000. Charles Schwab Investment Management Inc. raised its holdings in LendingClub by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider’s stock worth $10,371,000 after purchasing an additional 80,100 shares during the period. Capital Fund Management S.A. purchased a new position in LendingClub during the first quarter valued at $774,000. Invst LLC purchased a new position in LendingClub during the first quarter valued at $298,000. Finally, AlphaQuest LLC grew its holdings in LendingClub by 72.9% during the first quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider’s stock valued at $422,000 after purchasing an additional 17,224 shares during the period. 74.08% of the stock is owned by institutional investors.

About LendingClub

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.