Short Interest in LendingClub Corp (NYSE:LC) Declines By 6.4%

LendingClub Corp (NYSE:LC) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,650,000 shares, a decline of 6.4% from the August 15th total of 4,970,000 shares. Currently, 5.5% of the company’s shares are short sold. Based on an average trading volume of 721,200 shares, the short-interest ratio is presently 6.4 days.

In other news, insider Timothy Bogan sold 10,463 shares of LendingClub stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total transaction of $150,039.42. Following the transaction, the insider now owns 59,541 shares in the company, valued at approximately $853,817.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Athey sold 6,000 shares of LendingClub stock in a transaction on Monday, August 12th. The stock was sold at an average price of $15.04, for a total value of $90,240.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,663 shares of company stock worth $242,921. Insiders own 4.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Aperio Group LLC acquired a new position in LendingClub in the 2nd quarter valued at about $32,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in LendingClub in the 2nd quarter valued at about $54,000. SG Americas Securities LLC acquired a new position in LendingClub in the 1st quarter valued at about $60,000. Mizuho Securities Co. Ltd. acquired a new position in LendingClub in the 2nd quarter valued at about $66,000. Finally, Prudential Financial Inc. grew its position in LendingClub by 9.0% in the 2nd quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock valued at $77,000 after acquiring an additional 1,930 shares in the last quarter.

Shares of NYSE:LC traded down $0.65 during midday trading on Monday, reaching $13.08. 999,580 shares of the company’s stock were exchanged, compared to its average volume of 545,307. The firm’s 50 day simple moving average is $13.98 and its two-hundred day simple moving average is $7.67. The company has a debt-to-equity ratio of 2.11, a current ratio of 7.06 and a quick ratio of 5.81. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -37.37 and a beta of 1.60. LendingClub has a fifty-two week low of $12.30 and a fifty-two week high of $20.15.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, August 6th. The credit services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $190.80 million during the quarter, compared to the consensus estimate of $192.04 million. LendingClub had a negative return on equity of 2.67% and a negative net margin of 9.14%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. Equities research analysts predict that LendingClub will post -0.13 earnings per share for the current fiscal year.

A number of analysts recently issued reports on LC shares. ValuEngine downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Zacks Investment Research downgraded LendingClub from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley cut their price objective on LendingClub from $23.75 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Maxim Group set a $23.00 price objective on LendingClub and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.50.

About LendingClub

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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