Bridgeway Capital Management LLC Sells 37,005 Shares of LendingClub Co. (NYSE:LC)

Bridgeway Capital Management LLC decreased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 71.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,552 shares of the credit services provider's stock after selling 37,005 shares during the period. Bridgeway Capital Management LLC's holdings in LendingClub were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LC. Commonwealth Equity Services LLC boosted its stake in shares of LendingClub by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock valued at $441,000 after purchasing an additional 748 shares during the period. Summit Investment Advisors Inc. lifted its holdings in LendingClub by 9.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider's stock valued at $187,000 after buying an additional 984 shares in the last quarter. Jones Financial Companies Lllp boosted its position in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after buying an additional 1,975 shares during the period. New York State Common Retirement Fund grew its stake in LendingClub by 7.3% in the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock worth $475,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of LendingClub during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the completion of the sale, the chief executive officer now owns 1,292,532 shares of the company's stock, valued at $12,925,320. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now directly owns 88,263 shares of the company's stock, valued at $1,244,508.30. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,750 shares of company stock valued at $257,985 over the last 90 days. Insiders own 3.19% of the company's stock.

LendingClub Trading Up 5.5%

Shares of NYSE:LC opened at $11.16 on Tuesday. The company has a market capitalization of $1.27 billion, a PE ratio of 24.79 and a beta of 2.35. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75. The business's fifty day simple moving average is $10.26 and its 200-day simple moving average is $13.47.

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

Analyst Ratings Changes

A number of analysts recently issued reports on LC shares. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lowered their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

About LendingClub

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.

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