LendingClub (NYSE:LC) Hits New 12-Month High – What’s Next?

LendingClub Co. (NYSE:LC) reached a new 52-week high on Monday . The company traded as high as $17.84 and last traded at $17.68, with a volume of 1670083 shares traded. The stock had previously closed at $16.56.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Compass Point increased their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Finally, StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub currently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Price Performance

The company’s 50-day moving average price is $14.86 and its 200-day moving average price is $11.83. The company has a market cap of $1.86 billion, a P/E ratio of 36.04 and a beta of 2.02.

LendingClub (NYSE:LC) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. LendingClub’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, equities research analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

Insider Transactions at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now directly owns 1,339,273 shares in the company, valued at $19,941,774.97. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock worth $1,073,100 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after acquiring an additional 148,685 shares during the period. GSA Capital Partners LLP increased its holdings in shares of LendingClub by 47.3% during the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after purchasing an additional 68,791 shares during the period. Captrust Financial Advisors acquired a new stake in shares of LendingClub in the third quarter valued at approximately $237,000. Quantbot Technologies LP boosted its stake in shares of LendingClub by 153.2% in the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after buying an additional 96,053 shares during the period. Finally, Alpha DNA Investment Management LLC acquired a new stake in LendingClub during the third quarter worth approximately $411,000. Institutional investors own 74.08% of the company’s stock.

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.