LendingClub Shares Slide After Company Says It May Soon Issue Securities

LendingClub Corp LC shares fell 3.60 percent on Monday after the company announced it may soon issue securities in an SEC disclosure. The company's shares fell 0.7 percent during the past week and have fallen 8.58 percent in the last four weeks.

In a transaction dated Friday, December 18, insider Chief Risk Officer Chaomei Chen sold 75,000 shares of LendingClub's stock at an average price of $11.59, for a total transaction of $869,250.00. Following the transaction, Chen still owns 616,620 shares worth more than $7 million.

The company currently has a market cap of $4.31 billion, with a 52-week low of $10.28 and a 52-week high of $26.50.

LendingClub's quarterly earnings results were last issued on Thursday, October 29. The company reported $0.04 EPS for the quarter, beating the Wall Street consensus by two cents. Quarterly revenues came in nearly $10 million above estimates and guidance. LendingClub next reports in late February 2016.