GSA Capital Partners LLP Purchases 147,733 Shares of LendingClub Corporation (NYSE:LC)

Key Points

• GSA Capital Partners LLP increased its holdings in LendingClub Corporation by 98.1% during the first quarter, now owning 298,336 shares valued at approximately $3.08 million.
• Several institutional investors have also significantly increased their positions in LendingClub, with 74.08% of the stock currently owned by hedge funds and other institutional investors.
• LendingClub reported earnings of $0.10 EPS for the last quarter, matching analysts' expectations, while revenue increased dramatically by 21,670% year-over-year.

GSA Capital Partners LLP raised its position in LendingClub Corporation (NYSE:LC - Free Report) by 98.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,336 shares of the credit services provider's stock after acquiring an additional 147,733 shares during the quarter. LendingClub makes up about 0.3% of GSA Capital Partners LLP's investment portfolio, making the stock its 11th largest holding. GSA Capital Partners LLP owned 0.26% of LendingClub worth $3,079,000 at the end of the most recent reporting period.

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

LendingClub Stock Down 0.3%

NYSE LC traded down $0.04 on Friday, hitting $15.55. The company's stock had a trading volume of 2,706,001 shares, compared to its average volume of 1,710,050. LendingClub Corporation has a 1-year low of $7.90 and a 1-year high of $18.75. The company's 50-day moving average is $11.82 and its 200 day moving average is $11.83. The firm has a market cap of $1.78 billion, a PE ratio of 24.44 and a beta of 2.44.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results 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 net margin of 8.36% and a return on equity of 5.72%. The firm had revenue of $248.44 million during the quarter, compared to analysts' expectations of $227.04 million. During the same period in the prior year, the company posted $0.13 EPS. The company's revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total value of $68,145.00. Following the sale, the chief executive officer directly owned 1,283,175 shares of the company's stock, valued at approximately $16,655,611.50. This represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 26,250 shares of company stock valued at $302,610. Corporate insiders own 3.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stephens started coverage on shares of LendingClub in a research report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective for the company. Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods upped their price objective on shares of LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup started coverage on shares of LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Finally, Citizens Jmp started coverage on shares of LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, LendingClub currently has an average rating of "Moderate Buy" and a consensus 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.