Two Sigma Advisers LP Sells 290,600 Shares of LendingClub Co. (NYSE:LC)

Two Sigma Advisers LP decreased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 41.0% during the 4th quarter, according to its most recent 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 period. Two Sigma Advisers LP owned about 0.37% of LendingClub worth $6,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LC. Commonwealth Equity Services LLC grew its holdings in shares of LendingClub by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock valued at $441,000 after purchasing an additional 748 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of LendingClub by 9.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider's stock valued at $187,000 after purchasing an additional 984 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,975 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of LendingClub by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock worth $475,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of LendingClub during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Buying and Selling

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director now owns 174,138 shares in the company, valued at $1,628,190.30. The trade was a 12.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the completion of the transaction, the chief executive officer now owns 1,287,282 shares of the company's stock, valued at approximately $13,709,553.30. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock worth $215,198 in the last three months. 3.31% of the stock is owned by corporate insiders.

LendingClub Stock Down 1.0%

LC traded down $0.11 during trading hours on Thursday, hitting $9.98. 249,992 shares of the company's stock were exchanged, compared to its average volume of 1,607,797. The stock's 50-day moving average is $10.14 and its two-hundred day moving average is $13.15. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 22.17 and a beta of 2.35. LendingClub Co. has a 1-year low of $7.81 and a 1-year high of $18.75.

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

Analyst Ratings Changes

Several research analysts recently commented on LC shares. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. 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 research report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.75.

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.