LendingClub Corporation Sees Unusually Large Options Volume (LC)
LendingClub Corporation (NYSE:LC) was the target of unusually large options trading on Friday. Traders bought 9,016 put options on the company. This represents an increase of approximately 1,376% compared to the typical daily volume of 611 put options.
Shares of LendingClub Corporation (LC) opened at 6.15 on Monday. The stock’s market cap is $2.53 billion. The firm has a 50-day moving average price of $5.53 and a 200-day moving average price of $5.61. LendingClub Corporation has a one year low of $4.64 and a one year high of $6.78.
LendingClub Corporation (NYSE:LC) last posted its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The business had revenue of $139.60 million during the quarter, compared to the consensus estimate of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. LendingClub Corporation’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Analysts anticipate that LendingClub Corporation will post $0.04 earnings per share for the current fiscal year.
In other news, Director Daniel T. Ciporin bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $5.92 per share, for a total transaction of $59,200.00. Following the completion of the transaction, the director now owns 1,014,809 shares of the company’s stock, valued at $6,007,669.28. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Sanborn sold 46,667 shares of LendingClub Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $5.77, for a total value of $269,268.59. Following the sale, the chief executive officer now owns 970,337 shares in the company, valued at approximately $5,598,844.49. The disclosure for this sale can be found here. Insiders have sold 66,608 shares of company stock worth $377,506 in the last quarter. Insiders own 11.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in LendingClub Corporation by 871.2% in the first quarter. BNP Paribas Arbitrage SA now owns 1,071,460 shares of the credit services provider’s stock worth $5,882,000 after buying an additional 961,141 shares during the period. Bank of New York Mellon Corp increased its stake in LendingClub Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 1,534,776 shares of the credit services provider’s stock worth $8,426,000 after buying an additional 71,795 shares during the period. Opera Trading Capital acquired a new stake in LendingClub Corporation during the first quarter worth $439,000. First Trust Advisors LP increased its stake in LendingClub Corporation by 10.7% in the first quarter. First Trust Advisors LP now owns 123,512 shares of the credit services provider’s stock worth $678,000 after buying an additional 11,978 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in LendingClub Corporation by 90.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 201,600 shares of the credit services provider’s stock worth $1,107,000 after buying an additional 95,700 shares during the period. 86.91% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on LC shares. ValuEngine upgraded LendingClub Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Vetr upgraded LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Monday, May 8th. CIBC upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub cut LendingClub Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.78.
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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.
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