LendingClub Corp. (LC) Insider Sells $250,500.00 in Stock
LendingClub Corp. (NYSE:LC) insider John Macilwaine sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $5.01, for a total value of $250,500.00. Following the completion of the sale, the insider now owns 409,308 shares of the company’s stock, valued at $2,050,633.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of LendingClub Corp. (NYSE:LC) traded up 3.26% during midday trading on Wednesday, reaching $5.07. The company had a trading volume of 8,646,597 shares. The stock’s market capitalization is $1.98 billion. LendingClub Corp. has a 12-month low of $3.44 and a 12-month high of $15.00. The stock’s 50 day moving average is $5.80 and its 200-day moving average is $5.48.
LendingClub Corp. (NYSE:LC) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.07. The company earned $102.40 million during the quarter, compared to analyst estimates of $110.65 million. LendingClub Corp. had a negative net margin of 14.22% and a negative return on equity of 2.93%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, equities research analysts predict that LendingClub Corp. will post ($0.14) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in shares of LendingClub Corp. by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 23,208 shares of the company’s stock valued at $100,000 after buying an additional 6,205 shares during the last quarter. Psagot Investment House Ltd. raised its stake in shares of LendingClub Corp. by 166.7% in the second quarter. Psagot Investment House Ltd. now owns 24,000 shares of the company’s stock valued at $103,000 after buying an additional 15,000 shares during the last quarter. Geduld E E acquired a new stake in shares of LendingClub Corp. during the second quarter valued at approximately $108,000. Ameritas Investment Partners Inc. acquired a new stake in shares of LendingClub Corp. during the second quarter valued at approximately $110,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of LendingClub Corp. during the second quarter valued at approximately $111,000. 80.80% of the stock is owned by institutional investors.
A number of analysts recently commented on the company. FBR & Co set a $7.00 price objective on LendingClub Corp. and gave the stock a “hold” rating in a research report on Sunday. Pacific Crest reiterated a “hold” rating on shares of LendingClub Corp. in a research report on Tuesday, August 9th. Vetr lowered LendingClub Corp. from a “strong-buy” rating to a “buy” rating and set a $5.11 price objective for the company. in a research report on Monday, July 18th. BTIG Research set a $9.00 price objective on LendingClub Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research lowered LendingClub Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.68.
LendingClub Corp. Company Profile
LendingClub Corporation (Lending Club) provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that is only available on a limited basis to large institutional investors.
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