Insider Selling: LendingClub Corporation (LC) Insider Sells $92,592.36 in Stock
LendingClub Corporation (NYSE:LC) insider Timothy Bogan sold 15,204 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $6.09, for a total transaction of $92,592.36. Following the transaction, the insider now owns 120,946 shares in the company, valued at approximately $736,561.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of LendingClub Corporation (LC) opened at 6.19 on Friday. The stock’s market capitalization is $2.55 billion. The company has a 50-day moving average of $5.62 and a 200-day moving average of $5.60. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78.
LendingClub Corporation (NYSE:LC) last announced its earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). LendingClub Corporation had a negative return on equity of 11.97% and a negative net margin of 24.52%. The company had revenue of $139.60 million during the quarter, compared to analysts’ expectations of $134.02 million. During the same period last year, the business posted ($0.09) EPS. LendingClub Corporation’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, equities research analysts expect that LendingClub Corporation will post $0.04 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its position in shares of LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares during the period. Teacher Retirement System of Texas boosted its position in shares of LendingClub Corporation by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 23,822 shares of the credit services provider’s stock worth $131,000 after buying an additional 5,130 shares during the period. Blair William & Co. IL boosted its position in shares of LendingClub Corporation by 11.3% in the second quarter. Blair William & Co. IL now owns 26,150 shares of the credit services provider’s stock worth $144,000 after buying an additional 2,650 shares during the period. GSA Capital Partners LLP purchased a new position in shares of LendingClub Corporation during the second quarter worth approximately $150,000. Finally, Brighton Jones LLC purchased a new position in shares of LendingClub Corporation during the second quarter worth approximately $154,000. Institutional investors own 86.91% of the company’s stock.
A number of research analysts have weighed in on LC shares. Zacks Investment Research cut shares of LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Vetr cut shares of LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.55 price objective on the stock. in a research report on Wednesday, August 16th. UBS AG upgraded shares of LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Canaccord Genuity reiterated a “hold” rating and set a $7.00 price objective on shares of LendingClub Corporation in a research report on Monday, May 15th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of LendingClub Corporation in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $6.78.
LendingClub Corporation Company Profile
LendingClub Corporation 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 has been closed to many investors and only available on a limited basis to large institutional investors.
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