Investors Purchase Large Volume of LendingClub Call Options (NYSE:LC)

LendingClub Co. (NYSE:LC – Get Rating) was the target of unusually large options trading activity on Monday. Traders bought 2,606 call options on the stock. This represents an increase of 189% compared to the typical daily volume of 902 call options.

LendingClub Price Performance

NYSE LC opened at $10.86 on Tuesday. The company has a market cap of $1.14 billion, a PE ratio of 3.88 and a beta of 1.92. LendingClub has a 52 week low of $8.23 and a 52 week high of $23.84. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $11.56.

LendingClub (NYSE:LC – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The credit services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $294.95 million. LendingClub had a net margin of 24.88% and a return on equity of 21.55%. Research analysts predict that LendingClub will post 1.4 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Fergal Stack sold 6,240 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $10.09, for a total value of $62,961.60. Following the transaction, the senior vice president now owns 145,329 shares in the company, valued at approximately $1,466,369.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LendingClub news, Director Allan R. Landon purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was acquired at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director now owns 48,340 shares of the company’s stock, valued at approximately $459,230. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Fergal Stack sold 6,240 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $10.09, for a total transaction of $62,961.60. Following the completion of the sale, the senior vice president now owns 145,329 shares of the company’s stock, valued at approximately $1,466,369.61. The disclosure for this sale can be found here. Insiders have acquired a total of 22,300 shares of company stock worth $214,646 in the last ninety days. Company insiders own 3.22% of the company’s stock.

Institutional Investors Weigh In On LendingClub

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of LendingClub in the first quarter worth about $30,000. PNC Financial Services Group Inc. increased its position in shares of LendingClub by 367.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 2,049 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of LendingClub by 251.3% in the first quarter. Point72 Hong Kong Ltd now owns 3,861 shares of the credit services provider’s stock worth $61,000 after purchasing an additional 2,762 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of LendingClub in the third quarter worth approximately $97,000. Finally, Captrust Financial Advisors increased its position in shares of LendingClub by 1,610.3% in the first quarter. Captrust Financial Advisors now owns 6,499 shares of the credit services provider’s stock worth $103,000 after purchasing an additional 6,119 shares during the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Maxim Group reduced their target price on shares of LendingClub from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 31st. StockNews.com initiated coverage on shares of LendingClub in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wedbush cut their price target on shares of LendingClub from $20.00 to $15.00 in a report on Thursday, October 27th.

About LendingClub

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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.