LendingClub (NYSE:LC) Shares Gap Up on Analyst Upgrade

LendingClub Co. (NYSE:LC) shares gapped up before the market opened on Friday after Compass Point raised their price target on the stock from $15.00 to $19.00. The stock had previously closed at $13.82, but opened at $14.34. Compass Point currently has a buy rating on the stock. LendingClub shares last traded at $14.31, with a volume of 231,645 shares traded.

LC has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Piper Sandler restated an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of LendingClub in a report on Thursday. Wedbush lifted their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Maxim Group upped their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.38.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the transaction, the chief executive officer now owns 1,356,273 shares of the company’s stock, valued at $15,041,067.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 51,703 shares of company stock worth $562,705 over the last quarter. 3.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LendingClub

Several large investors have recently made changes to their positions in LC. AlphaMark Advisors LLC acquired a new stake in LendingClub in the 3rd quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares during the period. EntryPoint Capital LLC grew its stake in shares of LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of LendingClub during the second quarter worth $71,000. Finally, Innealta Capital LLC acquired a new stake in shares of LendingClub in the second quarter valued at $72,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Stock Down 1.7 %

The stock has a market capitalization of $1.52 billion, a PE ratio of 35.76 and a beta of 2.04. The stock has a fifty day moving average of $11.69 and a 200-day moving average of $10.02.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that LendingClub Co. will post 0.39 EPS for the current year.

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.