LendingClub (NYSE:LC) Shares Gap Down – Time to Sell?

LendingClub Co. (NYSE:LC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $16.83, but opened at $14.00. LendingClub shares last traded at $13.92, with a volume of 3,586,566 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Compass Point upped their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Maxim Group boosted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $16.00 target price (down from $17.00) on shares of LendingClub in a report on Wednesday. Finally, Wedbush raised their price target on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, LendingClub presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

LendingClub Price Performance

The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 31.02 and a beta of 2.03. The firm’s fifty day moving average is $16.38 and its two-hundred day moving average is $13.53.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total transaction of $274,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,312,184 shares of the company’s stock, valued at approximately $21,152,406.08. This represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock worth $1,122,710 over the last quarter. 3.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LC. Entropy Technologies LP acquired a new stake in shares of LendingClub during the fourth quarter worth approximately $199,000. Highland Capital Management LLC purchased a new stake in shares of LendingClub during the fourth quarter worth $180,000. Exchange Traded Concepts LLC acquired a new position in LendingClub in the 4th quarter worth about $280,000. SG Americas Securities LLC grew its stake in shares of LendingClub by 699.5% in the 4th quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider’s stock valued at $5,160,000 after buying an additional 278,879 shares in the last quarter. Finally, Range Financial Group LLC bought a new stake in LendingClub in the fourth quarter worth approximately $1,510,000. 74.08% of the stock is owned by institutional investors and hedge funds.

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.