Wellington Management Group LLP Has $61.52 Million Stock Position in LendingClub Co. (NYSE:LC)

Wellington Management Group LLP lifted its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 353.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,799,585 shares of the credit services provider's stock after acquiring an additional 2,961,050 shares during the period. Wellington Management Group LLP owned about 3.35% of LendingClub worth $61,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank acquired a new stake in LendingClub in the fourth quarter worth $37,000. SBI Securities Co. Ltd. acquired a new stake in shares of LendingClub during the fourth quarter worth $45,000. Sterling Capital Management LLC raised its holdings in LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after buying an additional 3,119 shares during the period. National Bank of Canada FI raised its stake in LendingClub by 150.6% during the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after purchasing an additional 2,448 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after purchasing an additional 1,975 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LC has been the subject of several recent research reports. Wall Street Zen cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods reduced their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total transaction of $52,500.00. Following the transaction, the chief executive officer now owns 1,303,032 shares in the company, valued at $13,030,320. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director now directly owns 174,138 shares in the company, valued at $1,628,190.30. This represents a 12.98% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 21,000 shares of company stock valued at $215,198 over the last 90 days. 3.31% of the stock is currently owned by insiders.

LendingClub Stock Performance

LendingClub stock traded down $0.08 during midday trading on Friday, reaching $10.05. The stock had a trading volume of 901,787 shares, compared to its average volume of 1,613,359. The firm's fifty day simple moving average is $10.09 and its 200-day simple moving average is $13.08. LendingClub Co. has a 1-year low of $7.81 and a 1-year high of $18.75. The stock has a market capitalization of $1.15 billion, a P/E ratio of 22.33 and a beta of 2.35.

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

LendingClub Company 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.