LendingClub Corporation $LC Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its LendingClub stake by 4.3% in the first quarter, adding 53,682 shares to own 1.29 million shares worth approximately $18.5 million. Institutional investors collectively own 74.08% of the company.
• LendingClub reported quarterly EPS of $0.44, exceeding analyst expectations of $0.38, while revenue rose 15.9% year over year to $252.25 million. The stock opened at $19.21, compared with a 52-week range of $10.74 to $21.67.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.07, while company insiders sold 119,750 shares worth about $2.18 million over the past three months under pre-arranged trading plans.

Arrowstreet Capital Limited Partnership lifted its position in LendingClub Corporation (NYSE:LC - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,293,052 shares of the credit services provider's stock after acquiring an additional 53,682 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.12% of LendingClub worth $18,517,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of LendingClub by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,697,333 shares of the credit services provider's stock worth $221,547,000 after acquiring an additional 516,542 shares during the last quarter. Wellington Management Group LLP raised its holdings in LendingClub by 18.8% during the third quarter. Wellington Management Group LLP now owns 7,960,550 shares of the credit services provider's stock valued at $120,921,000 after buying an additional 1,261,861 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LendingClub by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,760,141 shares of the credit services provider's stock worth $82,482,000 after buying an additional 139,746 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of LendingClub during the 4th quarter worth about $63,580,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of LendingClub by 12.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,984,349 shares of the credit services provider's stock valued at $30,142,000 after acquiring an additional 226,325 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company's stock.

LendingClub Price Performance

LC opened at $19.21 on Friday. The company has a market capitalization of $2.22 billion, a P/E ratio of 12.89 and a beta of 1.98. The firm's fifty day moving average price is $18.52 and its two-hundred day moving average price is $17.10. LendingClub Corporation has a fifty-two week low of $10.74 and a fifty-two week high of $21.67.

LendingClub (NYSE:LC - Get Free Report) last issued its earnings results on Monday, April 27th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. The business had revenue of $252.25 million during the quarter, compared to analysts' expectations of $249.10 million. LendingClub had a return on equity of 11.92% and a net margin of 16.99%.LendingClub's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. On average, equities research analysts expect that LendingClub Corporation will post 1.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LC shares. Weiss Ratings restated a "hold (c+)" rating on shares of LendingClub in a report on Wednesday, May 6th. Stephens reiterated an "overweight" rating and set a $22.50 price target (up from $21.00) on shares of LendingClub in a report on Tuesday, April 28th. Finally, Zacks Research raised shares of LendingClub from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.07.

Insider Activity

In other news, SVP Fergal Stack sold 60,000 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $19.00, for a total value of $1,140,000.00. Following the transaction, the senior vice president directly owned 204,977 shares of the company's stock, valued at $3,894,563. The trade was a 22.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Labenne sold 20,000 shares of LendingClub stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $17.00, for a total value of $340,000.00. Following the completion of the transaction, the chief financial officer owned 234,955 shares of the company's stock, valued at approximately $3,994,235. The trade was a 7.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 119,750 shares of company stock worth $2,183,691. 3.19% of the stock is currently owned by insiders.

LendingClub Company Profile

LendingClub Corporation operates an online lending marketplace that connects borrowers seeking personal and small business credit with individual and institutional investors. The platform leverages technology to streamline the loan application and underwriting process, offering unsecured personal loans, auto refinancing, and small business loans. In addition to lending products, LendingClub provides high-yield savings accounts and certificates of deposit through its banking charter, following its acquisition of Radius Bank in 2021.

Founded in 2006 by Renaud Laplanche, LendingClub pioneered peer-to-peer lending in the United States, helping to democratize access to credit and investment opportunities.

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