33,711 Shares in LendingClub Corporation (NYSE:LC) Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired a new stake in LendingClub Corporation, purchasing 33,711 shares valued at approximately $348,000.
• Insiders at LendingClub, including CEO Scott Sanborn and CFO Andrew Labenne, have sold a total of 38,955 shares in recent months, representing a significant decrease in their ownership stakes.
• LendingClub reported stronger-than-expected earnings for the quarter, posting an EPS of $0.33 compared to the consensus estimate of $0.15, with revenues increasing 14.1% year-over-year.

Aigen Investment Management LP bought a new position in shares of LendingClub Corporation (NYSE:LC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,711 shares of the credit services provider's stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds have also modified their holdings of LC. Wellington Management Group LLP boosted its holdings in LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after purchasing an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of LendingClub by 229.1% in the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock worth $58,103,000 after acquiring an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock worth $34,505,000 after acquiring an additional 1,412,568 shares during the last quarter. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of LendingClub in the 4th quarter worth approximately $13,432,000. Finally, G2 Investment Partners Management LLC acquired a new position in shares of LendingClub in the 4th quarter worth approximately $9,751,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Analyst Ratings Changes

LC has been the topic of a number of research reports. Piper Sandler set a $15.50 target price on shares of LendingClub and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citizens Jmp initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.57.

LendingClub Trading Down 0.4%

Shares of NYSE LC traded down $0.06 during mid-day trading on Friday, reaching $15.46. The company had a trading volume of 914,884 shares, compared to its average volume of 2,477,904. The firm has a 50 day simple moving average of $12.99 and a two-hundred day simple moving average of $11.72. The stock has a market cap of $1.77 billion, a P/E ratio of 24.16 and a beta of 2.46. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.18. The firm had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The company's revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. On average, equities analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the sale, the chief executive officer owned 1,283,175 shares in the company, valued at $16,655,611.50. This represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Labenne sold 17,955 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total transaction of $298,950.75. Following the sale, the chief financial officer owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. This represents a 9.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,955 shares of company stock worth $545,648 over the last ninety days. Insiders own 3.19% of the company's stock.

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.