LendingClub Co. (NYSE:LC) CEO Scott Sanborn Sells 17,000 Shares

LendingClub Co. (NYSE:LC) CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the transaction, the chief executive officer now directly owns 1,383,362 shares of the company’s stock, valued at approximately $14,179,460.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

LendingClub Stock Up 1.5 %

LC opened at $10.52 on Monday. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $12.87. The business has a 50 day moving average of $9.31 and a 200-day moving average of $8.80. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 30.94 and a beta of 2.06.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. LendingClub had a return on equity of 3.41% and a net margin of 5.61%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, analysts expect that LendingClub Co. will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the period. rhino investment partners Inc bought a new stake in LendingClub in the 4th quarter valued at $6,838,000. Verition Fund Management LLC acquired a new position in LendingClub in the 4th quarter valued at $6,115,000. Jackson Square Partners LLC increased its position in LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after buying an additional 541,538 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after acquiring an additional 336,827 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Ratings Changes

LC has been the subject of several recent research reports. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Compass Point raised their price objective on LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their target price on LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and issued a $13.00 price target (up from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. Finally, BTIG Research began coverage on LendingClub in a research note on Friday, June 7th. They set a “buy” rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.64.

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.