LendingClub Co. (NYSE:LC – Get Free Report) was the target of unusually large options trading on Wednesday. Traders acquired 15,770 call options on the company. This is an increase of approximately 544% compared to the typical daily volume of 2,449 call options.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a 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 report on Friday, October 25th. Wedbush increased their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, LendingClub currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.
Check Out Our Latest Stock Analysis on LC
LendingClub Stock Down 14.6 %
Insider Transactions at LendingClub
In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $15.84, for a total value of $269,280.00. Following the completion of the sale, the chief executive officer now directly owns 1,329,184 shares of the company’s stock, valued at approximately $21,054,274.56. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction dated 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 directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,000 shares of company stock valued at $1,122,710. 3.31% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On LendingClub
Hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC acquired a new position in LendingClub during the 3rd quarter worth $32,000. FMR LLC boosted its holdings in shares of LendingClub by 32.1% in the 3rd 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. Blue Trust Inc. boosted its holdings in shares of 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. Hsbc Holdings PLC boosted its holdings in shares of 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 buying an additional 4,640 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in shares of LendingClub in the 4th quarter valued at about $166,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.
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.
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