Insider Selling: LendingClub Corp (LC) Director Sells 250,000 Shares of Stock

LendingClub Corp (NYSE:LC) Director Mary G. Meeker sold 250,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $3.35, for a total transaction of $837,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mary G. Meeker also recently made the following trade(s):

  • On Monday, May 13th, Mary G. Meeker sold 276,500 shares of LendingClub stock. The stock was sold at an average price of $3.41, for a total transaction of $942,865.00.
  • On Thursday, May 9th, Mary G. Meeker sold 100,000 shares of LendingClub stock. The stock was sold at an average price of $3.57, for a total transaction of $357,000.00.

Shares of NYSE LC traded down $0.04 during mid-day trading on Friday, hitting $3.30. 90,998 shares of the company’s stock traded hands, compared to its average volume of 2,424,531. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 2.27. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -47.21 and a beta of 1.67. LendingClub Corp has a 1 year low of $2.46 and a 1 year high of $4.55.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, May 7th. The credit services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $174.40 million for the quarter, compared to analysts’ expectations of $170.45 million. LendingClub had a negative net margin of 16.31% and a negative return on equity of 3.19%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. On average, equities analysts predict that LendingClub Corp will post -0.04 EPS for the current fiscal year.

Several brokerages have commented on LC. Zacks Investment Research cut shares of LendingClub from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush upgraded shares of LendingClub from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.75 to $5.00 in a research note on Wednesday, May 8th. Finally, Maxim Group restated a “buy” rating and set a $4.50 target price on shares of LendingClub in a research report on Wednesday, February 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $4.88.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wiley BROS. Aintree Capital LLC purchased a new stake in shares of LendingClub during the 4th quarter valued at about $26,000. NewFocus Financial Group LLC bought a new position in LendingClub during the 4th quarter valued at about $45,000. Telemus Capital LLC bought a new position in LendingClub during the 4th quarter valued at about $51,000. SG Americas Securities LLC bought a new position in LendingClub during the 1st quarter valued at about $60,000. Finally, Renaissance Technologies LLC bought a new position in LendingClub during the 3rd quarter valued at about $194,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.

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About LendingClub

LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.

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Insider Buying and Selling by Quarter for LendingClub (NYSE:LC)

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