Edgestream Partners L.P. Makes New Investment in LendingClub Corporation (NYSE:LC)

Edgestream Partners L.P. acquired a new position in LendingClub Corporation (NYSE:LC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 71,544 shares of the credit services provider's stock, valued at approximately $738,000. Edgestream Partners L.P. owned approximately 0.06% of LendingClub at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank bought a new stake in shares of LendingClub during the 4th quarter valued at about $37,000. Sterling Capital Management LLC grew its position in LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,119 shares during the last quarter. National Bank of Canada FI grew its position in LendingClub by 150.6% in the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after purchasing an additional 2,448 shares during the last quarter. KBC Group NV bought a new position in shares of LendingClub in the first quarter valued at approximately $67,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of LendingClub by 95.4% in 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. Institutional investors and hedge funds own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction dated Wednesday, April 30th. The stock was bought at an average cost of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director owned 174,138 shares of the company's stock, valued at approximately $1,628,190.30. The trade was a 12.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction dated 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 directly owned 1,283,175 shares of the company's stock, valued at $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 sold a total of 31,500 shares of company stock worth $355,110 over the last 90 days. Company insiders own 3.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup began coverage on shares of LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Stephens started coverage on shares of LendingClub in a research note on Thursday, June 12th. They set an "overweight" rating and a $15.00 target price on the stock. Wall Street Zen downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Citizens Jmp started coverage on shares of LendingClub in a research note on Monday, July 7th. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.71.

LendingClub Stock Up 3.1%

Shares of LC traded up $0.40 during mid-day trading on Wednesday, hitting $13.37. 1,446,494 shares of the company's stock were exchanged, compared to its average volume of 1,642,961. The firm has a fifty day moving average of $11.39 and a two-hundred day moving average of $11.91. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 30.39 and a beta of 2.44.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. LendingClub had a net margin of 6.16% and a return on equity of 4.04%. The business had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same period last year, the business posted $0.11 EPS. LendingClub's revenue was up 21670.0% compared to the same quarter last year. On average, equities analysts predict that LendingClub Corporation will post 0.72 earnings per share 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.