LendingClub (NYSE:LC) Reaches New 1-Year High – Time to Buy?

LendingClub Co. (NYSE:LC) hit a new 52-week high on Friday . The company traded as high as $16.50 and last traded at $16.28, with a volume of 92533 shares changing hands. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

Several analysts have issued reports on LC shares. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Compass Point upped their price objective on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Maxim Group lifted their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Finally, Wedbush raised their price objective on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $15.38.

LendingClub Stock Performance

The company’s 50-day simple moving average is $12.97 and its two-hundred day simple moving average is $10.90. The firm has a market cap of $1.83 billion, a PE ratio of 34.69 and a beta of 2.01.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The company 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 last year, the firm earned $0.05 earnings per share. On average, analysts expect that LendingClub Co. will post 0.47 EPS for the current year.

Insider Transactions at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares in the company, valued at $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $326,260.00. Following the sale, the general counsel now directly owns 89,385 shares in the company, valued at approximately $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. In the last three months, insiders have sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LendingClub

A number of institutional investors have recently added to or reduced their stakes in LC. International Assets Investment Management LLC boosted its position in shares of LendingClub by 5.3% in the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after purchasing an additional 1,000 shares in the last quarter. FMR LLC boosted its holdings in LendingClub by 32.1% in 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 in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of LendingClub by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of LendingClub by 8.5% in the first quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock worth $172,000 after acquiring an additional 1,536 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of LendingClub by 16.3% during the second quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,732 shares in the last quarter. 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.