LendingClub (NYSE:LC) Hits New 52-Week High – Time to Buy?

LendingClub Co. (NYSE:LC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.84 and last traded at $17.68, with a volume of 1670083 shares changing hands. The stock had previously closed at $16.56.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LC. Maxim Group upped their price objective on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Compass Point raised their price target on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Trading Down 6.8 %

The stock has a market cap of $1.86 billion, a P/E ratio of 36.04 and a beta of 2.02. The business has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $11.83.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. During the same quarter in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts expect that LendingClub Co. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $15.84, for a total value of $269,280.00. Following the completion of the sale, the chief executive officer now directly owns 1,329,184 shares of the company’s stock, valued at approximately $21,054,274.56. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total transaction of $35,900.00. Following the transaction, the director now owns 203,348 shares in the company, valued at $2,920,077.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock valued at $1,073,100. 3.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of LendingClub by 21.6% during the third quarter. Wellington Management Group LLP now owns 838,535 shares of the credit services provider’s stock worth $9,584,000 after purchasing an additional 148,685 shares during the period. GSA Capital Partners LLP increased its stake in LendingClub by 47.3% during the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock valued at $2,448,000 after purchasing an additional 68,791 shares in the last quarter. Captrust Financial Advisors acquired a new position in LendingClub during the third quarter worth $237,000. Quantbot Technologies LP lifted its stake in shares of LendingClub by 153.2% in the third quarter. Quantbot Technologies LP now owns 158,763 shares of the credit services provider’s stock valued at $1,815,000 after buying an additional 96,053 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of LendingClub during the third quarter valued at about $411,000. 74.08% of the stock is owned by institutional investors and hedge funds.

About LendingClub

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.