LendingClub Corporation’s recently made public that its Director Cutler Stephen M acquired Company’s shares for reported $49997.0 on May 09. In the deal valued at $6.75 per share,7,407 shares were bought. As a result of this transaction, Cutler Stephen M now holds 14,806 shares worth roughly $ 0.1 million.
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Then, Cutler Stephen M bought 7,250 shares, generating $49,299 in total proceeds. Upon buying the shares at $6.80, the Director now owns 7,399 shares.
Before that, ARMSTRONG ANNIE sold 38,322 shares. LendingClub Corporation shares valued at $386,293 were divested by the Chief Risk Officer at a price of $10.08 per share. As a result of the transaction, ARMSTRONG ANNIE now holds 165,435 shares, worth roughly $1.16 million.
Jefferies initiated its LendingClub Corporation [LC] rating to a Buy in a research note published on Friday, June 16, 2023; the price target was $13.50. PT values the company’s stock at a premium of 48.07 to its Friday closing price.
Price Performance Review of LC
On Friday, LendingClub Corporation [NYSE:LC] saw its stock jump 0.72% to $7.01. On the same session, the stock had its day’s lowest price of $6.96, but rose to a high of $7.095. Over the last five days, the stock has gained 2.64%. LendingClub Corporation shares have fallen nearly -20.34% since the year began. Nevertheless, the stocks have fallen -46.37% over the past one year. While a 52-week high of $14.20 was reached on 07/19/23, a 52-week low of $6.23 was recorded on 08/22/23. SMA at 50 days reached $8.48, while 200 days put it at $8.62. A total of 0.96 million shares were traded, compared to the trading of 1.09 million shares in the previous session.
Levels Of Support And Resistance For LC Stock
The 24-hour chart illustrates a support level at 6.95, which if violated will result in even more drops to 6.89. On the upside, there is a resistance level at 7.08. A further resistance level may holdings at 7.16. The Relative Strength Index (RSI) on the 14-day chart is 40.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.21%. Stochastics %K at 70.96% indicates the stock is a holding.
How much short interest is there in LendingClub Corporation?
A steep rise in short interest was recorded in LendingClub Corporation stocks on Aug 14, 2023, dropping by -1.48 million shares to a total of 2.14 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.62 million shares. There was a decline of -69.16%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.32% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.87.
LendingClub Corporation [LC] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 11,163,117 shares, or roughly 10.39% of the outstanding LC shares. In other words, the investor’s shares have fallen by -1,564,381 from its previous 13-F filing of 12727498.0. Additionally, Jackson Square Partners LLC increased 4.94% of its stake after which the total value it holdings stand at $76,999,712, while BlackRock Fund Advisors added 2.06% of its stake to hold $58.89 million in the firm. Over the last quarter, Rubric Capital Management LP sold -184,123 shares of LendingClub Corporation, while Dimensional Fund Advisors LP sold 505,118 shares. At present, SSgA Funds Management, Inc. is holding 2,709,576 shares valued at $22.73 million. Citadel Advisors LLC owned 2,549,938 shares of the company at the time of its most recent 13F filing, worth $21.39 million.
According to FactSet, LendingClub Corporation’s share price will average $11.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 72.41 percent from its previous closing price of $6.96. Analysts expect LendingClub Corporation stock to reach the higher price of $15.00, while the lowest price estimate is $9.00. However, 9 analysts have rated LC stock as an Overweight in their predictions for 2023.