Insider Selling: LendingClub (NYSE:LC) Director Sells 2,390 Shares of Stock

Key Points

• Erin Selleck, a director at LendingClub, sold 2,390 shares of the company's stock at an average price of $16.82, resulting in a total transaction value of approximately $40,200.
• LendingClub reported a net margin of 8.36% and earnings of $0.33 per share for the last quarter, surpassing analysts' expectations of $0.15 by $0.18.
• Recent analyst ratings indicate a consensus of "Moderate Buy" for LendingClub shares, with an average price target of $16.57.

LendingClub Corporation (NYSE:LC - Get Free Report) Director Erin Selleck sold 2,390 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the transaction, the director directly owned 73,987 shares in the company, valued at approximately $1,244,461.34. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

LendingClub Stock Performance

NYSE:LC traded down $0.04 during trading hours on Friday, reaching $16.69. The stock had a trading volume of 923,469 shares, compared to its average volume of 1,378,416. LendingClub Corporation has a 52 week low of $7.90 and a 52 week high of $18.75. The company has a 50 day moving average price of $14.96 and a two-hundred day moving average price of $12.14. The stock has a market capitalization of $1.92 billion, a PE ratio of 26.08 and a beta of 2.53.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.18. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The business had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. During the same quarter in the previous year, the company posted $0.13 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that LendingClub Corporation will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LC. Citizens Jmp assumed coverage on LendingClub in a report on Monday, July 7th. They issued a "market perform" rating for the company. Piper Sandler set a $15.50 target price on LendingClub and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price objective on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Citigroup assumed coverage on LendingClub in a research note on Monday, July 7th. They set a "market perform" rating for the company. Finally, Stephens assumed coverage on LendingClub in a research note on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.57.

Hedge Funds Weigh In On LendingClub

A number of hedge funds have recently bought and sold shares of the business. Senvest Management LLC boosted its position in LendingClub by 23.5% during the second quarter. Senvest Management LLC now owns 5,881,290 shares of the credit services provider's stock worth $70,752,000 after purchasing an additional 1,117,241 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of LendingClub by 36.0% in the first quarter. Wellington Management Group LLP now owns 5,167,642 shares of the credit services provider's stock valued at $53,330,000 after acquiring an additional 1,368,057 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of LendingClub by 8.6% in the first quarter. Driehaus Capital Management LLC now owns 3,897,322 shares of the credit services provider's stock valued at $40,220,000 after acquiring an additional 308,523 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of LendingClub by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,699,141 shares of the credit services provider's stock valued at $32,476,000 after acquiring an additional 34,221 shares in the last quarter. Finally, Long Focus Capital Management LLC lifted its position in shares of LendingClub by 26.4% in the first quarter. Long Focus Capital Management LLC now owns 2,034,725 shares of the credit services provider's stock valued at $20,998,000 after acquiring an additional 425,000 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.

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.