LendingClub Co. (NYSE:LC – Get Free Report) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 2,870,000 shares, a decrease of 10.6% from the July 31st total of 3,210,000 shares. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is currently 2.1 days.
Analyst Ratings Changes
A number of equities analysts recently weighed in on LC shares. Compass Point increased their price objective on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $13.00 price target (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Wedbush boosted their price objective on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.
LendingClub Price Performance
Shares of NYSE:LC traded up $0.03 during trading on Friday, hitting $12.15. 822,871 shares of the company were exchanged, compared to its average volume of 1,280,813. The firm’s 50 day moving average price is $10.26 and its 200-day moving average price is $9.09. The stock has a market capitalization of $1.36 billion, a P/E ratio of 35.74 and a beta of 2.06. LendingClub has a 12-month low of $4.73 and a 12-month high of $12.87.
LendingClub (NYSE:LC – Get Free Report) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that LendingClub will post 0.38 EPS for the current year.
Insider Buying and Selling at LendingClub
In related news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $10.25, for a total transaction of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares in the company, valued at $14,179,460.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 20,380 shares of company stock worth $204,345. Insiders own 3.31% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of LC. EntryPoint Capital LLC raised its holdings in LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of LendingClub during the second quarter valued at $71,000. Innealta Capital LLC purchased a new stake in shares of LendingClub during the second quarter worth about $72,000. SG Americas Securities LLC grew its stake in LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of LendingClub in the first quarter valued at $129,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
LendingClub Company Profile
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.