Two Sigma Advisers LP Decreases Stock Holdings in LendingClub Co. (NYSE:LC)

Two Sigma Advisers LP cut its holdings in LendingClub Co. (NYSE:LC - Free Report) by 41.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 417,556 shares of the credit services provider's stock after selling 290,600 shares during the quarter. Two Sigma Advisers LP owned approximately 0.37% of LendingClub worth $6,760,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LC. Wellington Management Group LLP raised its stake in LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of LendingClub by 229.1% in the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock worth $58,103,000 after purchasing an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in LendingClub by 196.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock worth $34,505,000 after purchasing an additional 1,412,568 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of LendingClub by 158.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock worth $24,647,000 after buying an additional 933,680 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC bought a new position in LendingClub in the 4th quarter valued at approximately $13,432,000. 74.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LC has been the subject of several research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, LendingClub presently has an average rating of "Moderate Buy" and an average target price of $15.75.

Insider Activity

In related news, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was acquired at an average price of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director now directly owns 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $54,285.00. Following the completion of the sale, the chief executive officer now directly owns 1,297,782 shares in the company, valued at $13,419,065.88. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock worth $215,198 over the last quarter. Insiders own 3.19% of the company's stock.

LendingClub Stock Up 3.1%

LC stock traded up $0.31 during trading on Tuesday, reaching $10.17. The company's stock had a trading volume of 1,044,801 shares, compared to its average volume of 1,612,916. The company's fifty day moving average is $10.18 and its 200-day moving average is $13.19. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The company has a market capitalization of $1.16 billion, a P/E ratio of 22.60 and a beta of 2.35.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $217.71 million during the quarter, compared to analysts' expectations of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The firm's revenue was up 21670.0% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current year.

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.