LendingClub Sees Unusually Large Options Volume (NYSE:LC)

LendingClub Co. (NYSE:LC) saw some unusual options trading on Thursday. Traders acquired 5,279 call options on the company. This represents an increase of 334% compared to the typical daily volume of 1,215 call options.

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 51,703 shares of company stock worth $562,705 over the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Institutional Investors Weigh In On LendingClub

A number of hedge funds have recently added to or reduced their stakes in LC. AlphaMark Advisors LLC purchased a new stake in shares of LendingClub during the 3rd quarter worth $32,000. EntryPoint Capital LLC boosted its holdings 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 buying an additional 2,328 shares in the last quarter. nVerses Capital LLC acquired a new position in LendingClub during the second quarter worth about $71,000. Innealta Capital LLC purchased a new position in LendingClub in the second quarter valued at about $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 valued at $83,000 after acquiring an additional 5,247 shares during the period. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Trading Down 1.7 %

NYSE:LC opened at $13.59 on Friday. The stock’s 50 day simple moving average is $11.69 and its 200-day simple moving average is $10.02. LendingClub has a 12-month low of $4.73 and a 12-month high of $15.52. The firm has a market cap of $1.52 billion, a P/E ratio of 35.76 and a beta of 2.04.

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 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 the consensus estimate of $190.40 million. During the same quarter in the prior year, the firm earned $0.05 EPS. LendingClub’s quarterly revenue was up .5% on a year-over-year basis. Research analysts forecast that LendingClub will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LC shares. JPMorgan Chase & Co. boosted their price target 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. Maxim Group boosted their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price objective on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Wedbush raised their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.38.

About LendingClub

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.