Insider Buying: LendingClub Co. (NYSE:LC) Director Buys 20,000 Shares of Stock

LendingClub Co. (NYSE:LC) Director Michael P. Zeisser acquired 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the transaction, the director now owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

LendingClub Stock Up 1.0 %

Shares of NYSE:LC traded up $0.14 during midday trading on Wednesday, reaching $13.32. 1,540,683 shares of the company traded hands, compared to its average volume of 2,357,859. The firm’s fifty day moving average price is $16.13 and its two-hundred day moving average price is $13.65. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 29.59 and a beta of 2.01. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LC. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Wedbush upped 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. Compass Point raised their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Maxim Group upped their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Institutional Investors Weigh In On LendingClub

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in LendingClub by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock valued at $2,562,000 after acquiring an additional 1,445 shares in the last quarter. 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 period. SG Americas Securities LLC grew its position in shares of LendingClub by 223.0% during the 3rd quarter. SG Americas Securities LLC now owns 39,866 shares of the credit services provider’s stock valued at $456,000 after purchasing an additional 27,522 shares in the last quarter. Alpha Cubed Investments LLC purchased a new position in shares of LendingClub during the 3rd quarter valued at $170,000. Finally, Creative Planning increased its holdings in shares of LendingClub by 20.3% in the third quarter. Creative Planning now owns 33,695 shares of the credit services provider’s stock worth $385,000 after purchasing an additional 5,695 shares during the period. 74.08% of the stock is currently owned by 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.