LendingClub Co. (NYSE:LC) Short Interest Update

LendingClub Co. (NYSE:LC) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 4,690,000 shares, a growth of 7.6% from the December 15th total of 4,360,000 shares. Based on an average trading volume of 1,920,000 shares, the days-to-cover ratio is presently 2.4 days.

LendingClub Stock Performance

Shares of NYSE LC opened at $16.68 on Tuesday. LendingClub has a fifty-two week low of $7.48 and a fifty-two week high of $18.75. The stock has a fifty day moving average of $16.18 and a 200-day moving average of $13.19. The stock has a market cap of $1.87 billion, a PE ratio of 36.25 and a beta of 2.03.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that LendingClub will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LC. Wedbush raised their target price on LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Compass Point raised their target price on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler raised their target price on LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Finally, Maxim Group lifted their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.63.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $16.12, for a total transaction of $274,040.00. Following the sale, the chief executive officer now directly owns 1,312,184 shares in the company, valued at approximately $21,152,406.08. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares of the company’s stock, valued at $2,920,077.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,500 shares of company stock worth $1,158,610. 3.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On LendingClub

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Rhumbline Advisers lifted its stake in LendingClub by 3.2% during the second quarter. Rhumbline Advisers now owns 175,174 shares of the credit services provider’s stock worth $1,482,000 after purchasing an additional 5,418 shares during the last quarter. American Century Companies Inc. lifted its stake in LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 329,279 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after purchasing an additional 300,536 shares during the last quarter. Hsbc Holdings PLC lifted its stake in LendingClub by 38.3% during the second quarter. Hsbc Holdings PLC now owns 16,748 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 4,640 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in LendingClub during the second quarter worth about $193,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

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.