LendingClub Corporation $LC Stock Holdings Lifted by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its position in LendingClub Corporation by 8.6%, owning approximately 3.9 million shares valued at $40.2 million at the end of the first quarter.
• LendingClub reported a quarterly earnings per share (EPS) of $0.33, surpassing analyst expectations of $0.15, with revenues reaching $248.44 million compared to an estimated $227.04 million.
• Institutional investors now hold 74.08% of LendingClub's stock, reflecting a strong interest from various financial firms, including Raymond James and Mariner LLC.

Driehaus Capital Management LLC raised its holdings in LendingClub Corporation (NYSE:LC - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,897,322 shares of the credit services provider's stock after purchasing an additional 308,523 shares during the period. Driehaus Capital Management LLC owned 3.41% of LendingClub worth $40,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of LendingClub by 32.0% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,095,238 shares of the credit services provider's stock valued at $11,303,000 after purchasing an additional 265,577 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of LendingClub in the first quarter valued at about $1,341,000. Jump Financial LLC lifted its holdings in shares of LendingClub by 64.5% in the first quarter. Jump Financial LLC now owns 207,769 shares of the credit services provider's stock valued at $2,144,000 after purchasing an additional 81,487 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of LendingClub by 72.9% in the first quarter. AlphaQuest LLC now owns 40,864 shares of the credit services provider's stock valued at $422,000 after purchasing an additional 17,224 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of LendingClub in the first quarter valued at about $774,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other LendingClub news, CFO Andrew Labenne sold 17,955 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total transaction of $298,950.75. Following the transaction, the chief financial officer directly owned 178,111 shares in the company, valued at $2,965,548.15. This represents a 9.16% decrease in their position. The transaction 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 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 transaction, the chief executive officer owned 1,283,175 shares in the company, valued at $16,655,611.50. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,955 shares of company stock valued at $545,648 over the last 90 days. Insiders own 3.31% of the company's stock.

LendingClub Price Performance

LC stock traded down $0.18 on Wednesday, hitting $16.45. 309,800 shares of the company were exchanged, compared to its average volume of 1,701,323. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75. The business's fifty day moving average is $14.27 and its two-hundred day moving average is $11.96. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 25.71 and a beta of 2.53.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LC shares. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citizens Jmp started coverage on shares of LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Citigroup started coverage on shares of LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating for the company. Stephens started coverage on shares of LendingClub in a research report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price objective for the company. Finally, Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.57.

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.