LendingClub Co. (NYSE:LC) Position Trimmed by Algert Global LLC

Algert Global LLC lessened its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,695 shares of the credit services provider's stock after selling 91,438 shares during the quarter. Algert Global LLC owned 0.19% of LendingClub worth $3,492,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LC. Comerica Bank acquired a new position in shares of LendingClub during the fourth quarter worth $37,000. SBI Securities Co. Ltd. acquired a new position in LendingClub in the 4th quarter worth $45,000. Sterling Capital Management LLC boosted its position in LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after buying an additional 3,119 shares during the last quarter. National Bank of Canada FI boosted its position in LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after buying an additional 2,448 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of LendingClub by 49.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after acquiring an additional 1,975 shares during the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total value of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares in the company, valued at $1,244,508.30. The trade was a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the sale, the chief executive officer now directly owns 1,292,532 shares of the company's stock, valued at approximately $12,925,320. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,750 shares of company stock valued at $257,985. 3.19% of the stock is owned by corporate insiders.

LendingClub Trading Down 0.7 %

LC traded down $0.07 during trading hours on Friday, hitting $10.54. The company's stock had a trading volume of 652,944 shares, compared to its average volume of 1,610,922. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75. The company has a 50-day simple moving average of $10.27 and a 200 day simple moving average of $13.49. The firm has a market capitalization of $1.20 billion, a PE ratio of 23.42 and a beta of 2.35.

LendingClub (NYSE:LC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. LendingClub's revenue was up 21670.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. Research analysts expect that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Piper Sandler restated an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. StockNews.com cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, LendingClub has a consensus rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Company Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.