LendingClub Target of Unusually High Options Trading (NYSE:LC)

LendingClub Co. (NYSE:LC) saw some unusual options trading on Wednesday. Stock investors purchased 15,770 call options on the stock. This represents an increase of approximately 544% compared to the typical daily volume of 2,449 call options.

LendingClub Stock Performance

Shares of NYSE LC traded down $3.21 during mid-day trading on Wednesday, hitting $13.63. The stock had a trading volume of 5,496,615 shares, compared to its average volume of 1,839,750. The business has a 50 day moving average price of $16.34 and a two-hundred day moving average price of $13.48. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The firm has a market cap of $1.53 billion, a P/E ratio of 29.75 and a beta of 2.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LC shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 price objective (down from $17.00) on shares of LendingClub in a report on Wednesday. Wedbush boosted their target price on shares of LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.38.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the transaction, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at approximately $19,941,774.97. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the 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 sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,000 shares of company stock worth $1,122,710. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On LendingClub

A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its position in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after purchasing an additional 1,424 shares during the period. The Manufacturers Life Insurance Company boosted its position in LendingClub by 0.5% during the 2nd 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. AlphaMark Advisors LLC purchased a new position in shares of LendingClub during the 3rd quarter worth approximately $32,000. Hsbc Holdings PLC raised its position in shares of LendingClub by 38.3% in the 2nd quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 4,640 shares in the last quarter. Finally, Aigen Investment Management LP lifted its stake in shares of LendingClub by 18.5% in the 3rd quarter. Aigen Investment Management LP now owns 31,542 shares of the credit services provider’s stock valued at $361,000 after purchasing an additional 4,917 shares during the period. 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.