LendingClub Corporation (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Analysts

LendingClub Corporation (NYSE:LC) has been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.0714.

Several equities analysts recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $22.50 target price (up from $21.00) on shares of LendingClub in a research report on Tuesday, April 28th. Zacks Research raised LendingClub from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of LendingClub in a research note on Wednesday, May 6th.

LendingClub Stock Performance

Shares of LendingClub stock opened at $19.21 on Tuesday. The firm’s 50 day simple moving average is $18.84 and its two-hundred day simple moving average is $17.08. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.89 and a beta of 1.98. LendingClub has a 12-month low of $10.74 and a 12-month high of $21.67.

Insider Buying and Selling at LendingClub

In other LendingClub news, SVP Fergal Stack sold 60,000 shares of LendingClub stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $19.00, for a total transaction of $1,140,000.00. Following the completion of the sale, the senior vice president directly owned 204,977 shares in the company, valued at approximately $3,894,563. The trade was a 22.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Labenne sold 20,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $17.00, for a total transaction of $340,000.00. Following the completion of the sale, the chief financial officer directly owned 234,955 shares in the company, valued at $3,994,235. This trade represents a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 119,750 shares of company stock worth $2,183,691 in the last 90 days. Corporate insiders own 3.19% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in LendingClub during the fourth quarter worth $63,580,000. Wellington Management Group LLP increased its holdings in LendingClub by 18.8% in the third quarter. Wellington Management Group LLP now owns 7,960,550 shares of the credit services provider’s stock valued at $120,921,000 after buying an additional 1,261,861 shares in the last quarter. Marshall Wace LLP raised its position in shares of LendingClub by 1,232.2% in the third quarter. Marshall Wace LLP now owns 735,821 shares of the credit services provider’s stock worth $11,177,000 after acquiring an additional 680,589 shares during the period. Vanguard Group Inc. boosted its stake in shares of LendingClub by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 11,697,333 shares of the credit services provider’s stock worth $221,547,000 after acquiring an additional 516,542 shares in the last quarter. Finally, Nicholas Investment Partners LP boosted its stake in shares of LendingClub by 144.7% during the 4th quarter. Nicholas Investment Partners LP now owns 709,206 shares of the credit services provider’s stock worth $13,432,000 after acquiring an additional 419,417 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.