LendingClub Sees Unusually High Options Volume (NYSE:LC)

LendingClub Co. (NYSE:LC) was the target of unusually large options trading on Thursday. Investors bought 5,279 call options on the stock. This is an increase of 334% compared to the typical daily volume of 1,215 call options.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total transaction of $174,250.00. Following the sale, the chief executive officer now owns 1,383,362 shares in the company, valued at approximately $14,179,460.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 51,703 shares of company stock valued at $562,705 in the last three months. 3.31% of the stock is owned by corporate insiders.

Institutional Trading of LendingClub

Institutional investors have recently bought and sold shares of the business. AlphaMark Advisors LLC bought a new stake in shares of LendingClub during the 3rd quarter valued at $32,000. EntryPoint Capital LLC lifted its stake in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares during the last quarter. nVerses Capital LLC bought a new stake in LendingClub during the second quarter worth $71,000. Innealta Capital LLC acquired a new position in shares of LendingClub during the 2nd quarter worth $72,000. Finally, Blue Trust Inc. lifted its position in shares of LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after buying an additional 5,247 shares during the last quarter. Institutional investors own 74.08% of the company’s stock.

LendingClub Stock Up 10.8 %

LC opened at $13.81 on Friday. LendingClub has a 12-month low of $4.73 and a 12-month high of $15.52. The business has a 50 day moving average of $11.64 and a 200-day moving average of $9.98. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 40.62 and a beta of 2.04.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter last year, the company posted $0.05 EPS. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts expect that LendingClub will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LC. Keefe, Bruyette & Woods raised shares of LendingClub from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $11.50 to $15.00 in a report on Thursday, October 10th. Wedbush increased their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of LendingClub in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.29.

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.