LendingClub Co. (NYSE:LC) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 353.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,799,585 shares of the credit services provider's stock after purchasing an additional 2,961,050 shares during the period. Wellington Management Group LLP owned 3.35% of LendingClub worth $61,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank purchased a new position in shares of LendingClub during the 4th quarter valued at about $37,000. SBI Securities Co. Ltd. purchased a new position in LendingClub during the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC boosted its position in shares of LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after purchasing an additional 3,119 shares during the period. National Bank of Canada FI boosted its position in shares of 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 worth $66,000 after purchasing an additional 2,448 shares during the period. Finally, Jones Financial Companies Lllp increased its stake 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. Hedge funds and other institutional investors own 74.08% of the company's stock.

LendingClub Stock Up 0.1%

LC stock traded up $0.02 during mid-day trading on Monday, hitting $10.05. The company had a trading volume of 184,573 shares, compared to its average volume of 1,610,884. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 22.28 and a beta of 2.35. The company has a 50-day moving average price of $10.09 and a 200 day moving average price of $13.04. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75.

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

Insiders Place Their Bets

In related news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total value of $55,912.50. Following the transaction, the chief executive officer now owns 1,287,282 shares in the company, valued at approximately $13,709,553.30. This represents a 0.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the completion of the transaction, the director now owns 174,138 shares of the company's stock, 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 21,000 shares of company stock worth $215,198 in the last three months. Corporate insiders own 3.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LC. JPMorgan Chase & Co. lowered their target price on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Wall Street Zen downgraded LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.

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.