LendingClub (NYSE:LC) Sets New 52-Week High at $33.61

Shares of LendingClub Co. (NYSE:LC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $33.61 and last traded at $33.43, with a volume of 57452 shares. The stock had previously closed at $32.23.

LC has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of LendingClub from a “buy” rating to a “hold” rating in a report on Wednesday, September 29th. TheStreet upgraded shares of LendingClub from a “d+” rating to a “c” rating in a research note on Thursday, July 29th. Maxim Group upgraded shares of LendingClub from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Friday, August 20th. Credit Suisse Group upped their price objective on shares of LendingClub from $16.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, July 29th. Finally, Wedbush increased their target price on shares of LendingClub from $25.00 to $33.50 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.00.

The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -30.53 and a beta of 1.89. The company has a 50-day simple moving average of $28.84 and a two-hundred day simple moving average of $20.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.34 and a quick ratio of 1.10.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, July 28th. The credit services provider reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.50. LendingClub had a negative return on equity of 11.22% and a negative net margin of 21.42%. The business had revenue of $204.38 million during the quarter, compared to the consensus estimate of $133.43 million. Research analysts anticipate that LendingClub Co. will post -0.12 EPS for the current year.

In other LendingClub news, insider Annie Armstrong sold 3,686 shares of LendingClub stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $31.37, for a total transaction of $115,629.82. Following the transaction, the insider now owns 70,710 shares of the company’s stock, valued at approximately $2,218,172.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Athey sold 8,310 shares of LendingClub stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $29.20, for a total transaction of $242,652.00. The disclosure for this sale can be found here. Insiders have sold 24,637 shares of company stock worth $672,311 in the last three months. 4.48% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of LC. Arkadios Wealth Advisors bought a new stake in LendingClub in the second quarter worth $27,000. Itau Unibanco Holding S.A. bought a new stake in LendingClub in the second quarter worth $46,000. Tortoise Index Solutions LLC bought a new stake in LendingClub in the second quarter worth $63,000. Meeder Asset Management Inc. raised its stake in shares of LendingClub by 348.5% during the second quarter. Meeder Asset Management Inc. now owns 4,373 shares of the credit services provider’s stock valued at $79,000 after acquiring an additional 3,398 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of LendingClub by 200.0% during the first quarter. Penserra Capital Management LLC now owns 5,118 shares of the credit services provider’s stock valued at $84,000 after acquiring an additional 3,412 shares during the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.

LendingClub Company Profile (NYSE:LC)

LendingClub Corp. engages in the operation of education and patient finance and auto loan services. Its loan product types consists of personal, education and patient finance, and auto. The company was founded by Renaud Laplanche and Soulaiman Htite on October 2, 2006 and is headquartered in San Francisco, CA.

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