LendingClub Co. (NYSE:LC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of LendingClub Co. (NYSE:LC) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $16.38.

LC has been the topic of several analyst reports. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Compass Point increased their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday. Maxim Group boosted their price objective on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, 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, October 24th.

LendingClub Price Performance

NYSE LC opened at $14.33 on Friday. The stock has a market capitalization of $1.61 billion, a PE ratio of 31.14 and a beta of 2.03. LendingClub has a 1-year low of $7.48 and a 1-year high of $18.75. The business has a 50 day simple moving average of $16.36 and a two-hundred day simple moving average of $13.54.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $15.84, for a total transaction of $269,280.00. Following the completion of the sale, the chief executive officer now owns 1,329,184 shares of the company’s stock, valued at $21,054,274.56. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,000 shares of company stock worth $1,122,710. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of institutional investors have recently modified their holdings of LC. FMR LLC grew its position in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after buying an additional 1,424 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock valued at $2,562,000 after purchasing an additional 1,445 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in LendingClub in the 3rd quarter worth about $32,000. Hsbc Holdings PLC boosted its position in LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 4,640 shares in the last quarter. Finally, Aigen Investment Management LP grew its holdings in LendingClub by 18.5% in the third quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock valued at $361,000 after purchasing an additional 4,917 shares during the period. Hedge funds and other 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.