LendingClub Co. (NYSE:LC) Sees Significant Growth in Short Interest

LendingClub Co. (NYSE:LC – Get Rating) was the target of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 5,130,000 shares, a growth of 7.5% from the December 15th total of 4,770,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on LendingClub in a report on Wednesday, October 12th. They set a “hold” rating for the company. Maxim Group dropped their target price on LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 31st. Finally, Wedbush dropped their target price on LendingClub from $20.00 to $15.00 in a report on Thursday, October 27th.

LendingClub Stock Up 6.8 %

Shares of NYSE LC opened at $10.32 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.11. LendingClub has a 52 week low of $8.23 and a 52 week high of $23.84. The stock has a market capitalization of $1.08 billion, a P/E ratio of 3.69 and a beta of 1.92. The stock’s fifty day moving average is $9.51 and its 200 day moving average is $11.58.

LendingClub (NYSE:LC – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The credit services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. LendingClub had a return on equity of 21.55% and a net margin of 24.88%. The company had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $294.95 million. Sell-side analysts forecast that LendingClub will post 1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Allan R. Landon purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average price of $10.01 per share, with a total value of $50,050.00. Following the acquisition, the director now directly owns 28,340 shares of the company’s stock, valued at approximately $283,683.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other LendingClub news, CFO Andrew Labenne purchased 12,300 shares of the business’s stock in a transaction on Friday, November 4th. The stock was acquired at an average price of $9.52 per share, with a total value of $117,096.00. Following the acquisition, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $142,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allan R. Landon bought 5,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average cost of $10.01 per share, with a total value of $50,050.00. Following the acquisition, the director now directly owns 28,340 shares of the company’s stock, valued at approximately $283,683.40. The disclosure for this purchase can be found here. Insiders acquired 22,300 shares of company stock valued at $214,646 in the last quarter. 3.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in LendingClub by 11.8% in the third quarter. Vanguard Group Inc. now owns 13,111,119 shares of the credit services provider’s stock valued at $144,878,000 after acquiring an additional 1,381,527 shares during the last quarter. Rubric Capital Management LP grew its position in LendingClub by 34.4% in the third quarter. Rubric Capital Management LP now owns 4,861,192 shares of the credit services provider’s stock valued at $53,716,000 after acquiring an additional 1,243,889 shares during the last quarter. Bank of America Corp DE grew its position in LendingClub by 154.0% in the first quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock valued at $31,408,000 after acquiring an additional 1,206,662 shares during the last quarter. Point72 Asset Management L.P. grew its position in LendingClub by 98.9% in the second quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock valued at $23,257,000 after acquiring an additional 989,200 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in LendingClub in the second quarter valued at about $12,641,000. Institutional investors own 81.11% of the company’s stock.

About LendingClub

(Get Rating)

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.