LendingClub Sees Unusually Large Options Volume (NYSE:LC)

LendingClub Co. (NYSE:LC) was the target of some unusual options trading activity on Wednesday. Stock investors bought 15,770 call options on the company. This is an increase of approximately 544% compared to the average volume of 2,449 call options.

Analyst Ratings Changes

LC has been the subject of a number of recent research reports. Compass Point increased their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wedbush boosted their price objective on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Maxim Group increased their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Activity

In other news, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the transaction, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now directly owns 1,312,184 shares in the company, valued at $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,000 shares of company stock valued at $1,122,710. Company insiders own 3.31% of the company’s stock.

Institutional Trading of LendingClub

Several hedge funds have recently bought and sold shares of LC. Wellington Management Group LLP grew its stake in LendingClub by 21.6% in the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock valued at $9,584,000 after purchasing an additional 148,685 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of LendingClub in the third quarter valued at $237,000. JPMorgan Chase & Co. increased its holdings in LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after buying an additional 45,307 shares during the last quarter. GSA Capital Partners LLP raised its position in 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 acquiring an additional 68,791 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in 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 acquiring an additional 96,053 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Price Performance

Shares of LC stock traded down $3.21 during trading hours on Wednesday, reaching $13.63. The company had a trading volume of 5,496,615 shares, compared to its average volume of 1,839,750. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The company has a 50 day moving average of $16.34 and a 200 day moving average of $13.48. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 29.75 and a beta of 2.03.

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.