Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. LendingClub Corporation shares valued at $513,472 were sold by ARMSTRONG ANNIE on Aug 26. At $13.86 per share, ARMSTRONG ANNIE sold 37,046 shares. The insider’s holdings dropped to 134,156 shares worth approximately $1.55 million following the completion of this transaction.
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Also, Momen Ronnie sold 33,726 shares, netting a total of over 467,452 in proceeds. Following the sale of shares at $13.86 each, the insider now holds 166,594 shares.
Before that, Stack Fergal had sold 6,040 shares from its account. In a trade valued at $83,723, the SVP, Corporate Controller traded LendingClub Corporation shares for $13.86 each. Upon closing the transaction, the insider’s holdings decreased to 6,040 shares, worth approximately $1.58 million.
As published in a research note from Janney on January 12, 2022, LendingClub Corporation [LC] has been rated up from a Neutral to a Buy and the price target has been revised to $32. This represents a 63.87% premium over Thursday’s closing price. Analysts at Seaport Research Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in mid January. Earlier on October 28, 2021, Compass Point upgraded its rating. Their new recommendation was “a Buy” for LC stock which previously was a “a Neutral”.
Analyzing LC’s Price Performance
On Thursday, LendingClub Corporation [NYSE: LC] plunged -5.32% to $11.56. The stock’s lowest price that day was $11.495, but it reached a high of $12.14 in the same session. During the last five days, there has been a drop of approximately -10.66%. Over the course of the year, LendingClub Corporation shares have dropped approximately -52.19%. Shares of the company reached a 52-week high of $26.87 on 01/12/22 and a 52-week low of $11.16 on 07/05/22. A 50-day SMA is recorded $13.90, while a 200-day SMA reached $16.44. Nevertheless, trading volume fell to 1.75 million shares from 1.38 million shares the previous day.
Support And Resistance Levels for LendingClub Corporation (LC)
According to the 24-hour chart, there is a support level at 11.32, which, if violated, would cause prices to drop to 11.09. In the upper region, resistance lies at 11.97. The next price resistance is at 12.38. RSI (Relative Strength Index) is 31.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 97.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is LendingClub Corporation subject to short interest?
Stocks of LendingClub Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.21 million shares to 7.66 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.45 million shares. A jump of 15.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.62.
Which companies own the most shares of LendingClub Corporation (LC)?
According to The Vanguard Group, Inc. filings, the company currently owns 11,532,809 shares, which is about 11.13% of the total LC shares outstanding. The investor’s shares have appreciated by 1,889,384 from its previous 13-F filing of 9643425.0 shares. With the completion of the sale transaction, Jackson Square Partners LLC’s stake is now worth $114,155,184. BlackRock Fund Advisors acquire a 3.89% interest valued at $81.27 million while Rubric Capital Management LP purchased a 817,303 stake. A total of 350,000 shares of LendingClub Corporation were bought by No Street GP LP during the quarter, and 241,019 were bought by SSgA Funds Management, Inc.. In its current portfolio, Citadel Advisors LLC holds 2,223,427 shares valued at $29.06 million.
In terms of LendingClub Corporation share price expectations, FactSet research, analysts set an average price target of $22.86 in the next 12 months, up nearly 63.8% from the previous closing price of $12.21. Analysts anticipate LendingClub Corporation stock to reach $40.00 by 2022, with the lowest price target being $15.00. In spite of this, 7 analysts ranked LendingClub Corporation stock as an Overweight at the end of 2022. On August 20, 2021, Maxim Group assigned a price target of “a Buy” to the stock and upgraded coverage with a $35.