LendingClub (NYSE:LC) Trading Down 6.3% – Here’s Why

LendingClub Co. (NYSE:LC)’s stock price fell 6.3% during trading on Tuesday . The stock traded as low as $15.91 and last traded at $16.14. 798,485 shares changed hands during trading, a decline of 37% from the average session volume of 1,261,927 shares. The stock had previously closed at $17.23.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Wedbush increased their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Maxim Group boosted their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, LendingClub currently has a consensus rating of “Moderate Buy” and an average target price of $16.63.

LendingClub Stock Down 6.4 %

The company has a 50-day moving average price of $15.90 and a 200-day moving average price of $12.65. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 35.07 and a beta of 2.03.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. Equities analysts expect that LendingClub Co. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total value 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. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,500 shares of company stock valued at $1,158,610. Company insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

A number of institutional investors and hedge funds have recently modified their holdings of LC. AlphaMark Advisors LLC acquired a new position in LendingClub in the 3rd quarter valued at $32,000. FMR LLC increased 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 worth $67,000 after acquiring an additional 1,424 shares during the period. Blue Trust Inc. increased its position in LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 5,247 shares during the period. Hsbc Holdings PLC boosted its holdings in LendingClub by 38.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 4,640 shares during the period. Finally, Alpha Cubed Investments LLC acquired a new position in shares of LendingClub during the 3rd quarter worth approximately $170,000. 74.08% of the stock is owned by institutional investors.

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.