75,036 Shares in LendingClub Corporation $LC Acquired by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. invested approximately $774,000 in LendingClub Corporation by purchasing 75,036 shares during the first quarter.
• Several other institutional investors also adjusted their positions in LendingClub, raising overall ownership to 74.08% by institutional investors.
• LendingClub reported strong earnings for the last quarter, exceeding estimates with $0.33 EPS and revenue of $248.44 million, a 14.1% increase year-over-year.

Capital Fund Management S.A. bought a new position in shares of LendingClub Corporation (NYSE:LC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 75,036 shares of the credit services provider's stock, valued at approximately $774,000. Capital Fund Management S.A. owned 0.07% of LendingClub at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of LendingClub during the 1st quarter worth approximately $35,000. Comerica Bank purchased a new stake in shares of LendingClub during the fourth quarter worth approximately $37,000. KBC Group NV purchased a new stake in shares of LendingClub during the first quarter worth approximately $67,000. Asset Management One Co. Ltd. increased its position in shares of LendingClub by 95.4% during the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider's stock worth $98,000 after purchasing an additional 4,651 shares in the last quarter. Finally, Highland Capital Management LLC increased its position in shares of LendingClub by 24.4% during the first quarter. Highland Capital Management LLC now owns 13,841 shares of the credit services provider's stock worth $143,000 after purchasing an additional 2,717 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $12.98, for a total value 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. This represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Labenne sold 17,955 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 178,111 shares in the company, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,955 shares of company stock valued at $545,648. Corporate insiders own 3.19% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on LC. Stephens began coverage on LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price target for the company. Wall Street Zen upgraded LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their price target on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Citigroup assumed coverage on LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Finally, Piper Sandler set a $15.50 target price on LendingClub and gave the company an "overweight" rating in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, LendingClub presently has an average rating of "Moderate Buy" and an average target price of $16.57.

LendingClub Trading Down 0.3%

LC traded down $0.06 during mid-day trading on Friday, hitting $17.19. 1,487,017 shares of the stock were exchanged, compared to its average volume of 1,734,347. The firm's fifty day moving average is $14.04 and its two-hundred day moving average is $11.92. LendingClub Corporation has a 1-year low of $7.90 and a 1-year high of $18.75. The company has a market cap of $1.97 billion, a PE ratio of 26.86 and a beta of 2.46.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The business had revenue of $248.44 million during the quarter, compared to analysts' expectations of $227.04 million. During the same quarter last year, the business posted $0.13 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that LendingClub Corporation will post 0.72 earnings per share for the current year.

LendingClub 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.