LendingClub Corp (NYSE: LC) stock jumped 1.08% on Monday to $5.62 against a previous-day closing price of $5.56. With 1.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.36 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $5.68 whereas the lowest price it dropped to was $5.41. The 52-week range on LC shows that it touched its highest point at $10.92 and its lowest point at $4.73 during that stretch. It currently has a 1-year price target of $9.19. Beta for the stock currently stands at 1.95.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LC was up-trending over the past week, with a rise of 8.29%, but this was up by 5.84% over a month. Three-month performance dropped to -10.51% while six-month performance fell -30.79%. The stock lost -46.32% in the past year, while it has lost -36.14% so far this year. A look at the trailing 12-month EPS for LC yields 0.49 with Next year EPS estimates of 0.31. For the next quarter, that number is 0.02. This implies an EPS growth rate of -90.04% for this year and 12.00% for next year.
Float and Shares Shorts:
At present, 106.55 million LC shares are outstanding with a float of 105.31 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.75 million, which was 3.42% higher than short shares on Sep 28, 2023. In addition to Mr. Scott C. Sanborn as the firm’s CEO & Director, Mr. Andrew LaBenne serves as its Chief Financial Officer.
Through their ownership of 87.51% of LC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.64% of LC, in contrast to 4.02% held by mutual funds. Shares owned by individuals account for 30.71%. As the largest shareholder in LC with 9.89% of the stake, The Vanguard Group, Inc. holds 10,749,035 shares worth 10,749,035. A second-largest stockholder of LC, Jackson Square Partners LLC, holds 9,182,405 shares, controlling over 8.45% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LC, holding 7,078,837 shares or 6.51% stake. With a 3.02% stake in LC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,283,854 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.44% of LC stock, is the second-largest Mutual Fund holder. It holds 2,653,439 shares valued at 13.77 million. iShares Russell 2000 ETF holds 2.34% of the stake in LC, owning 2,537,983 shares worth 13.17 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LC analysts setting a high price target of $13.00 and a low target of $7.00, the average target price over the next 12 months is $9.19. Based on these targets, LC could surge 131.32% to reach the target high and rise by 24.56% to reach the target low. Reaching the average price target will result in a growth of 63.52% from current levels.
Summary of Insider Activity:
Insiders traded LC stock several times over the past three months with 34 Buys and 7 Sells. In these transactions, 383,610 shares were bought while 141,699 shares were sold. The number of buy transactions has increased to 129 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 2,136,114 while 991,231 shares were sold.