LendingClub Sees Unusually Large Options Volume (NYSE:LC)

LendingClub Co. (NYSE:LC) saw some unusual options trading activity on Wednesday. Investors acquired 15,770 call options on the company. This represents an increase of approximately 544% compared to the typical volume of 2,449 call options.

Insider Activity at LendingClub

In other news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the transaction, the chief executive officer now owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock worth $1,122,710 in the last 90 days. 3.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LendingClub

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock valued at $17,351,000 after purchasing an additional 828,958 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in LendingClub by 98.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after buying an additional 766,287 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of LendingClub in the 2nd quarter worth $2,412,000. SG Americas Securities LLC raised its holdings in shares of LendingClub by 699.5% during the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock worth $5,160,000 after acquiring an additional 278,879 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in LendingClub by 212.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 345,079 shares of the credit services provider’s stock valued at $2,919,000 after purchasing an additional 234,611 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

LC has been the topic of several research analyst reports. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday. Wedbush upped their price target on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of LendingClub in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.38.

LendingClub Stock Down 5.7 %

Shares of NYSE LC traded down $0.81 during trading on Friday, hitting $13.47. The company had a trading volume of 4,512,910 shares, compared to its average volume of 2,354,522. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 29.93 and a beta of 2.03. The stock has a fifty day simple moving average of $16.33 and a two-hundred day simple moving average of $13.54. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75.

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.