Campbell & CO Investment Adviser LLC Buys Shares of 129,968 LendingClub Corporation $LC

Key Points

• Campbell & CO Investment Adviser LLC invested approximately $1.34 million in LendingClub Corporation, acquiring 129,968 shares during the first quarter.
• Several institutional investors, including SummerHaven Investment Management LLC and Mitsubishi UFJ Asset Management Co. Ltd., have also increased their stakes in LendingClub, indicating strong institutional interest.
• LendingClub reported an EPS of $0.33 for the last quarter, surpassing estimates, and revealed revenue growth of 14.1% compared to the same quarter last year.

Campbell & CO Investment Adviser LLC purchased a new position in shares of LendingClub Corporation (NYSE:LC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 129,968 shares of the credit services provider's stock, valued at approximately $1,341,000. Campbell & CO Investment Adviser LLC owned about 0.11% of LendingClub at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of LendingClub in the fourth quarter valued at $1,696,000. Mariner LLC increased its position in LendingClub by 44.0% during the fourth quarter. Mariner LLC now owns 17,476 shares of the credit services provider's stock worth $283,000 after purchasing an additional 5,340 shares during the last quarter. First Trust Advisors LP purchased a new position in LendingClub during the fourth quarter worth approximately $2,445,000. MetLife Investment Management LLC boosted its holdings in shares of LendingClub by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 66,251 shares of the credit services provider's stock valued at $1,073,000 after purchasing an additional 3,064 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of LendingClub by 18.9% during the 4th quarter. Hsbc Holdings PLC now owns 22,809 shares of the credit services provider's stock valued at $373,000 after buying an additional 3,627 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Andrew Labenne sold 17,955 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer owned 178,111 shares in the company, valued at approximately $2,965,548.15. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total transaction of $68,145.00. Following the transaction, the chief executive officer owned 1,283,175 shares in the company, valued at approximately $16,655,611.50. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,955 shares of company stock worth $545,648 in the last 90 days. 3.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded LendingClub from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citizens Jmp assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their target price on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Stephens assumed coverage on LendingClub in a research note on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.57.

LendingClub Trading Down 0.3%

Shares of LendingClub stock traded down $0.06 on Friday, reaching $17.19. 1,487,017 shares of the company were exchanged, compared to its average volume of 1,734,347. LendingClub Corporation has a fifty-two week low of $7.90 and a fifty-two week high of $18.75. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 26.86 and a beta of 2.46. The stock has a fifty day moving average price of $14.04 and a 200-day moving average price of $11.92.

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

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.