Insider Buying: LendingClub Co. (NYSE:LC) Director Purchases 20,000 Shares of Stock

LendingClub Co. (NYSE:LC) Director Michael P. Zeisser purchased 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the transaction, the director now owns 148,018 shares of the company’s stock, valued at approximately $1,906,471.84. The trade was a 15.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

LendingClub Price Performance

Shares of NYSE:LC opened at $13.65 on Friday. The business’s 50 day simple moving average is $16.07 and its 200-day simple moving average is $13.64. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 30.32 and a beta of 2.00.

Analysts Set New Price Targets

Several research firms recently issued reports on LC. Compass Point boosted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wedbush lifted their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Institutional Trading of LendingClub

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of LendingClub in the fourth quarter valued at $45,000. AlphaMark Advisors LLC purchased a new position in LendingClub in the 3rd quarter valued at about $32,000. FMR LLC boosted its stake in shares of LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of LendingClub by 259.8% in the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after buying an additional 5,247 shares during the last quarter. 74.08% of the stock is currently 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.