LendingClub Corporation Sees Unusually High Options Volume (NYSE:LC)

LendingClub Corporation (NYSE:LC) was the recipient of some unusual options trading on Monday. Stock traders bought 9,080 call options on the company. This represents an increase of 479% compared to the typical daily volume of 1,567 call options.

LendingClub Corporation (NYSE:LC) opened at 5.22 on Friday. LendingClub Corporation has a one year low of $4.30 and a one year high of $6.78. The firm has a 50-day moving average of $5.47 and a 200-day moving average of $5.64. The stock’s market capitalization is $2.11 billion.

LendingClub Corporation (NYSE:LC) last announced its quarterly earnings results on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.04. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. The company had revenue of $124.50 million during the quarter, compared to the consensus estimate of $121.63 million. During the same period in the previous year, the firm posted $0.05 EPS. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. On average, equities research analysts forecast that LendingClub Corporation will post $0.03 earnings per share for the current year.

Several equities analysts recently commented on LC shares. BTIG Research reissued a “buy” rating and issued a $9.00 target price on shares of LendingClub Corporation in a report on Monday, May 8th. Susquehanna Bancshares Inc raised LendingClub Corporation from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $6.00 to $9.00 in a report on Monday, May 1st. Vetr lowered LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 price objective on the stock. in a report on Tuesday, April 11th. Zacks Investment Research lowered LendingClub Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $8.00 price objective on shares of LendingClub Corporation in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.48.

In other news, insider Timothy Bogan sold 54,090 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $5.84, for a total transaction of $315,885.60. Following the sale, the insider now owns 160,739 shares of the company’s stock, valued at $938,715.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Simon Williams sold 80,000 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.98, for a total value of $478,400.00. Following the completion of the transaction, the director now directly owns 161,053 shares in the company, valued at approximately $963,096.94. The disclosure for this sale can be found here. Insiders sold 463,239 shares of company stock worth $2,677,984 over the last quarter. 11.40% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in LendingClub Corporation by 0.4% in the first quarter. SG Americas Securities LLC now owns 43,485 shares of the credit services provider’s stock worth $239,000 after buying an additional 171 shares during the period. Prudential Financial Inc. increased its stake in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock worth $119,000 after buying an additional 760 shares during the period. Malaga Cove Capital LLC increased its stake in LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock worth $147,000 after buying an additional 1,000 shares during the period. Nisa Investment Advisors LLC increased its stake in LendingClub Corporation by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 36,240 shares of the credit services provider’s stock worth $200,000 after buying an additional 1,500 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in LendingClub Corporation by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 140,647 shares of the credit services provider’s stock worth $771,000 after buying an additional 2,425 shares during the period. Institutional investors own 91.47% of the company’s stock.

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LendingClub Corporation Company Profile

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.