Dynamic Technology Lab Private Ltd Purchases Shares of 84,167 LendingClub Corporation $LC

Key Points

• Dynamic Technology Lab Private Ltd has newly invested approximately $869,000 in LendingClub Corporation by acquiring 84,167 shares, representing about 0.07% ownership at the end of Q1.
• LendingClub reported a significant earnings beat with an EPS of $0.33, exceeding analysts' expectations of $0.15, and revenue increased by 14.1% year-over-year to $248.44 million.
• Various institutional investors, including SummerHaven Investment Management and Mitsubishi UFJ Asset Management, have adjusted their stakes in LendingClub, with hedge funds now owning 74.08% of the company's stock.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of LendingClub Corporation (NYSE:LC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 84,167 shares of the credit services provider's stock, valued at approximately $869,000. Dynamic Technology Lab Private Ltd owned approximately 0.07% of LendingClub at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LC. Quarry LP grew its stake in LendingClub by 1,427.2% during the first quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in LendingClub during the first quarter valued at approximately $35,000. Comerica Bank purchased a new position in LendingClub during the fourth quarter valued at approximately $37,000. KBC Group NV purchased a new position in LendingClub during the first quarter valued at approximately $67,000. Finally, Asset Management One Co. Ltd. grew its stake in 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 valued at $98,000 after acquiring an additional 4,651 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Activity

In other news, Director Erin Selleck sold 2,390 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $16.82, for a total value of $40,199.80. Following the completion of the sale, the director owned 73,987 shares of the company's stock, valued at approximately $1,244,461.34. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Labenne sold 17,955 shares of the company's 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 completion of the sale, the chief financial officer directly owned 178,111 shares of the company's stock, valued at $2,965,548.15. This trade represents a 9.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,095 shares of company stock valued at $1,031,273. Corporate insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

LC has been the subject of several recent analyst reports. Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their price target on shares of LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. 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. Citigroup assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. Finally, Stephens assumed coverage on shares of LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target for the company. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.57.

LendingClub Stock Down 0.2%

Shares of LendingClub stock traded down $0.04 during trading on Friday, reaching $16.69. The company's stock had a trading volume of 923,469 shares, compared to its average volume of 1,378,823. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $18.75. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 26.08 and a beta of 2.53. The firm's 50-day moving average is $14.96 and its two-hundred day moving average is $12.14.

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 analysts' consensus estimates 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 analysts' expectations of $227.04 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current 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.