LendingClub Co. (NYSE:LC – Get Rating) insider Ronnie Momen sold 33,726 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $13.86, for a total value of $467,442.36. Following the sale, the insider now owns 166,594 shares of the company’s stock, valued at $2,308,992.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
LendingClub Stock Down 2.9 %
Shares of LendingClub stock opened at $13.07 on Thursday. The firm has a market capitalization of $1.35 billion, a PE ratio of 4.93 and a beta of 2.01. LendingClub Co. has a 12-month low of $11.16 and a 12-month high of $49.21. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $13.77 and its 200-day moving average is $14.63.
LendingClub (NYSE:LC – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $330.10 million during the quarter, compared to the consensus estimate of $298.97 million. LendingClub had a return on equity of 27.96% and a net margin of 24.75%. The firm’s revenue was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. Equities analysts anticipate that LendingClub Co. will post 1.5 earnings per share for the current year.
Wall Street Analyst Weigh In
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in LendingClub by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 9,801,535 shares of the credit services provider’s stock worth $154,668,000 after buying an additional 626,217 shares in the last quarter. State Street Corp boosted its position in shares of LendingClub by 11.8% during the 2nd quarter. State Street Corp now owns 2,285,680 shares of the credit services provider’s stock worth $26,720,000 after acquiring an additional 241,019 shares in the last quarter. Foundation Capital LLC acquired a new stake in shares of LendingClub during the 4th quarter worth approximately $48,999,000. Bank of America Corp DE boosted its position in shares of LendingClub by 154.0% during the 1st quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock worth $31,408,000 after acquiring an additional 1,206,662 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of LendingClub by 98.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock worth $23,257,000 after acquiring an additional 989,200 shares in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.
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