LendingClub Co. (NYSE:LC) Director Allan R. Landon Buys 5,000 Shares
LendingClub Co. (NYSE:LC – Get a rating) Manager Allan R. Landon acquired 5,000 shares of LendingClub in a transaction that took place on Wednesday, November 2. The shares were acquired at an average price of $10.01 per share, with a total value of $50,050.00. Following the completion of the acquisition, the administrator now directly owns 28,340 shares of the company, valued at approximately $283,683.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.
Performance of LendingClub shares
NYSE:LC traded down $0.26 on Friday, hitting $9.61. The stock recorded a trading volume of 1,903,072 shares, compared to an average volume of 2,121,236 shares. The stock has a market capitalization of $1.01 billion, a price-earnings ratio of 3.43 and a beta of 1.91. The company has a quick ratio of 1.08, a current ratio of 1.12 and a leverage ratio of 0.11. The company’s 50-day simple moving average is $11.85 and its two-hundred-day simple moving average is $13.25. LendingClub Co. has a 52-week low of $9.34 and a 52-week high of $48.13.
Lending Club (NYSE:LC – Get a rating) last announced its results on Wednesday, October 26. The credit service provider reported earnings per share (EPS) of $0.36 for the quarter, beating the consensus estimate of $0.35 by $0.01. The company posted revenue of $304.91 million for the quarter, versus $294.95 million expected by analysts. LendingClub had a return on equity of 22.60% and a net margin of 24.88%. As a group, research analysts predict LendingClub Co. will post 1.39 earnings per share for the current year.
Institutional entries and exits
Several institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stock position in LendingClub during Q1 worth approximately $30,000. PNC Financial Services Group Inc. increased its position in LendingClub shares by 367.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider valued at $41,000 after buying 2,049 additional shares last quarter. Point72 Hong Kong Ltd increased its position in LendingClub shares by 251.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,861 shares of the credit service provider valued at $61,000 after buying 2,762 additional shares last quarter. Daiwa Securities Group Inc. increased its position in LendingClub shares by 45.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,232 shares of the credit services provider valued at $67,000 after buying 1,329 additional shares last quarter. Finally, the New York State Teachers’ Retirement System purchased a new stock position in LendingClub during Q3, valued at approximately $97,000. 81.80% of the shares are held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
Several equity research analysts have recently commented on the company. Credit Suisse Group cut its price target on LendingClub from $25.00 to $20.00 and set a “neutral” rating for the company in a Thursday, July 28 report. Maxim Group cut its price target on LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a report on Monday. StockNews.com supposed coverage on LendingClub in a Wednesday, October 12 report. They issued a “hold” rating for the company. Finally, Wedbush reduced its price target on LendingClub from $20.00 to $15.00 in a Thursday, October 27 report. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on MarketBeat data, LendingClub currently has an average rating of “Moderate Buy” and an average price target of $21.75.
LendingClub Corporation, operates as a bank holding company for LendingClub Bank, a national association that provides a range of financial products and services through a technology platform in the United States. The Company provides commercial and industrial real estate, commercial real estate, small business and equipment loans, as well as rental equipment; and unsecured personal and auto loans, patient financing and education financing.
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