LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng Sells 7,000 Shares

LendingClub Co. (NYSE:LC) General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the sale, the general counsel now owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

LendingClub Stock Down 4.2 %

Shares of NYSE:LC traded down $0.58 during trading on Friday, hitting $13.02. 1,604,372 shares of the company were exchanged, compared to its average volume of 2,154,167. The business’s 50 day moving average is $15.56 and its 200-day moving average is $13.83. The company has a market capitalization of $1.48 billion, a P/E ratio of 28.92 and a beta of 2.00. LendingClub Co. has a 1-year low of $7.48 and a 1-year high of $18.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LC. Comerica Bank acquired a new position in shares of LendingClub during the fourth quarter worth $37,000. SBI Securities Co. Ltd. bought a new stake in shares of LendingClub in the fourth quarter worth $45,000. Sterling Capital Management LLC grew its stake in shares of LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI grew its stake in shares of LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,448 shares during the last quarter. Finally, FMR LLC grew its stake in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price objective (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Wedbush boosted their price objective on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Maxim Group lifted their price target 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. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (up from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

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.