Stock Traders Buy Large Volume of LendingClub Call Options (NYSE:LC)

LendingClub Co. (NYSE:LC) saw some unusual options trading on Wednesday. Investors purchased 15,770 call options on the company. This is an increase of approximately 544% compared to the typical daily volume of 2,449 call options.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. The trade was a 19.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at $19,941,774.97. This represents a 1.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock valued at $1,122,710 over the last quarter. 3.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On LendingClub

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after buying an additional 82,315 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of LendingClub by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after acquiring an additional 42,429 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after acquiring an additional 766,287 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of LendingClub by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after acquiring an additional 828,958 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider’s stock worth $11,409,000 after purchasing an additional 45,307 shares in the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Compass Point raised their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Maxim Group raised their price objective on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday. Wedbush increased their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

LendingClub Trading Down 5.7 %

LC stock traded down $0.81 on Friday, hitting $13.47. The company’s stock had a trading volume of 4,512,910 shares, compared to its average volume of 2,354,522. LendingClub has a 1 year low of $7.48 and a 1 year high of $18.75. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 29.93 and a beta of 2.03. The firm has a 50 day moving average of $16.33 and a two-hundred day moving average of $13.54.

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.