Insider Buying: LendingClub Co. (NYSE:LC) Director Acquires $257,600.00 in Stock

LendingClub Co. (NYSE:LC) Director Michael P. Zeisser bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average cost of $12.88 per share, for a total transaction of $257,600.00. Following the purchase, the director now directly owns 148,018 shares in the company, valued at $1,906,471.84. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

LendingClub Stock Performance

Shares of LendingClub stock opened at $13.50 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 29.99 and a beta of 2.01. The stock has a 50 day moving average price of $16.01 and a 200-day moving average price of $13.64. LendingClub Co. has a one year low of $7.48 and a one year high of $18.75.

Hedge Funds Weigh In On LendingClub

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in shares of LendingClub in the 4th quarter worth approximately $45,000. AlphaMark Advisors LLC purchased a new position in LendingClub during the 3rd quarter valued at $32,000. FMR LLC boosted its holdings in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 1,424 shares during the period. Jones Financial Companies Lllp boosted its holdings in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after acquiring an additional 1,975 shares during the period. Finally, Blue Trust Inc. boosted its holdings in LendingClub by 259.8% during the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price target (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target (down previously from $17.00) on shares of LendingClub in a report on Wednesday, January 29th. Finally, Maxim Group raised their price target on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a 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. According to MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and an average target price of $16.38.

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.