71,544 Shares in LendingClub Corporation (NYSE:LC) Acquired by Edgestream Partners L.P.

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

Several other institutional investors have also recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of LendingClub during the first quarter worth about $67,000. Highland Capital Management LLC grew its position in LendingClub by 24.4% during the 1st 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 during the period. Asset Management One Co. Ltd. raised its position 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. Oppenheimer Asset Management Inc. boosted its holdings in LendingClub by 35.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 39,340 shares of the credit services provider's stock worth $406,000 after buying an additional 10,314 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LendingClub during the 1st quarter valued at about $161,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total transaction of $54,285.00. Following the completion of the transaction, the chief executive officer owned 1,297,782 shares in the company, valued at approximately $13,419,065.88. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was bought at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the transaction, the director directly owned 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This trade represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 36,750 shares of company stock worth $409,395 over the last quarter. 3.19% of the stock is owned by company insiders.

LendingClub Trading Up 1.7%

LC stock traded up $0.22 on Tuesday, hitting $13.03. 553,893 shares of the company's stock traded hands, compared to its average volume of 1,635,680. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 29.63 and a beta of 2.44. LendingClub Corporation has a 1-year low of $7.90 and a 1-year high of $18.75. The stock has a fifty day moving average of $11.28 and a 200-day moving average of $11.92.

LendingClub (NYSE:LC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $217.71 million for the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The firm's quarterly revenue was up 21670.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities research analysts anticipate that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.