The Vanguard Group, Inc. recently announced the acquisition of new stake in LendingClub Corporation (NYSE:LC). The institutional investor has increased its shareholding in the Financial company by 8.29% to 13.98 million shares with purchase of 1.07 million shares. This fresh investment now brings its stake to 13.12% valued currently at $100.4 million. In addition, Jackson Square Partners LLC raised its holdings by 0.89 million to 8.75 million shares. And BlackRock Fund Advisors has lifted its position by 1.32% or 89403.0 shares – to 6.88 million shares.
With over 1.76 million LendingClub Corporation (LC) shares trading Monday and a closing price of $8.12 on the day, the dollar volume was approximately $14.32 million. The shares have shown a negative half year performance of -22.45% and its price on 05/22/23 gained nearly 3.05%. Currently, there are 106.91M common shares owned by the public and among those 101.99M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for LC have a consensus price objective of $11.13. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $9.00. The average price target is 28.08% above its recent price level and an upside to the estimated low will see the stock gain 9.78% over that period. But an upside of 45.87% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 191 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 141 of these insider trades were purchases, accounting for 2,007,840 shares. Insider sales of the common stock occurred on 50 occasions, with total insider shares sold totaling 1,066,819 shares.
The top 3 mutual fund holders in LendingClub Corporation are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 3.28 million shares of the company’s stock, all valued at over $23.58 million. The company sold 3276.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard Small Cap Index Fund sold -0.1 million shares to see its total holdings shrink to 2.64 million shares valued at over $18.97 million and representing 2.48% of the shares outstanding. iShares Russell 2000 ETF sold 32560.0 shares to bring its total holdings to over 2.23 million shares at a value of $15.98 million. iShares Russell 2000 ETF now owns shares totaling to 2.09% of the shares outstanding.
Shares of LendingClub Corporation (NYSE: LC) opened at $7.94, up $0.06 from a prior closing price of $7.88. However, the script later moved the day high at 8.18, up 3.05%. The company’s stock has a 5-day price change of 9.14% and -14.07% over the past three months. LC shares are trading -7.73% year to date (YTD), with the 12-month market performance down to -39.31% lower. It has a 12-month low price of $6.30 and touched a high of $16.41 over the same period. LC has an average intraday trading volume of 1.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.32%, 14.50%, and -18.60% respectively.
Institutional ownership of LendingClub Corporation (NYSE: LC) shares accounts for 84.10% of the company’s 106.91M shares outstanding. Mutual fund holders own 32.56%, while other institutional holders and individual stakeholders account for 44.38% and 3.14% respectively.
It has a market capitalization of $895.88M and a beta (3y monthly) value of 1.91. The stock’s trailing 12-month PE ratio is 3.26, while the earnings-per-share (ttm) stands at $2.49. The company has a debt-to-equity ratio at 6.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.68% over the week and 4.32% over the month.
Analysts forecast that LendingClub Corporation (LC) will achieve an EPS of $0.04 for the current quarter, $0.04 for the next quarter and $0.71 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $0.45 a year ago. Earnings per share for the fiscal year are expected to decrease by -80.90%, and 158.76% over the next financial year. EPS should shrink at an annualized rate of -8.60% over the next five years, compared to 28.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate LendingClub Corporation (LC) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
