The Insider Selling: LendingClub Corp (LC) Director Sells 80,000 Shares of Stock

The Insider Selling: LendingClub Corp (LC) Director Sells 80,000 Shares of Stock

Shares of LendingClub Corp (LC) opened at 5.60 on Monday. The firm’s market cap is $2.26 billion. The company has a 50 day moving average of $5.78 and a 200 day moving average of $5.66. LendingClub Corp has a 52 week low of $4.03 and a 52 week high of $6.78.

LendingClub Corp (NYSE:LC) Director Simon Williams sold 80,000 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.98, for a total transaction of $478,400.00. Following the completion of the transaction, the director now directly owns 161,053 shares in the company, valued at $963,096.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

LendingClub Corp (NYSE:LC) last released its quarterly earnings data on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. LendingClub Corp had a negative return on equity of 6.68% and a negative net margin of 21.75%. The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.63 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue was down 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that LendingClub Corp will post $0.04 EPS for the current fiscal year.

LendingClub Corp (NYSE:LC) last released its quarterly earnings data on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. LendingClub Corp had a negative return on equity of 6.68% and a negative net margin of 21.75%. The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.63 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue was down 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that LendingClub Corp will post $0.04 EPS for the current fiscal year. A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LC. Capstone Investment Advisors LLC bought a new position in LendingClub Corp during the fourth quarter valued at about $117,000. Prudential Financial Inc. raised its position in LendingClub Corp by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares in the last quarter. Malaga Cove Capital LLC raised its position in LendingClub Corp by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in LendingClub Corp during the fourth quarter valued at about $158,000. Finally, GSA Capital Partners LLP bought a new position in LendingClub Corp during the fourth quarter valued at about $166,000. Hedge funds and other institutional investors own 80.27% of the company’s stock.

LC has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $8.00 price target on shares of LendingClub Corp in a research note on Tuesday, April 18th. Vetr upgraded shares of LendingClub Corp from a “hold” rating to a “buy” rating and set a $6.10 price target for the company in a research note on Wednesday, May 24th. Wedbush upgraded shares of LendingClub Corp from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $4.50 to $5.00 in a research note on Wednesday, March 22nd. Guggenheim upgraded shares of LendingClub Corp from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Thursday, March 16th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $7.00 price target on shares of LendingClub Corp in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. LendingClub Corp presently has a consensus rating of “Hold” and a consensus target price of $6.54. About LendingClub Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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