LendingClub Corporation $LC Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its LendingClub stake by 2.5% in the first quarter, adding 139,746 shares to own 5.76 million shares worth approximately $82.5 million, or 4.99% of the company. Institutional investors and hedge funds collectively own 74.08% of LendingClub.
• Analyst sentiment is generally positive, with LendingClub receiving a “Moderate Buy” consensus rating and an average price target of $23.07. Stephens raised its target to $22.50, while Zacks Research upgraded the stock to “strong buy.”
• LendingClub beat quarterly earnings expectations, reporting EPS of $0.44 versus the $0.38 consensus and revenue of $252.25 million, up 15.9% year over year. Shares opened at $19.21, while insiders sold 119,750 shares worth $2.18 million over the past 90 days.

Dimensional Fund Advisors LP lifted its stake in LendingClub Corporation (NYSE:LC - Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,760,141 shares of the credit services provider's stock after purchasing an additional 139,746 shares during the period. Dimensional Fund Advisors LP owned about 4.99% of LendingClub worth $82,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LC. International Assets Investment Management LLC acquired a new stake in LendingClub in the 4th quarter valued at about $40,000. Kestra Advisory Services LLC purchased a new position in shares of LendingClub in the 4th quarter valued at about $44,000. Quarry LP grew its position in shares of LendingClub by 343.0% during the third quarter. Quarry LP now owns 3,030 shares of the credit services provider's stock worth $46,000 after buying an additional 2,346 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of LendingClub during the second quarter worth about $53,000. Finally, Larson Financial Group LLC increased its stake in shares of LendingClub by 1,435.4% during the fourth quarter. Larson Financial Group LLC now owns 3,040 shares of the credit services provider's stock worth $58,000 after buying an additional 2,842 shares during the period. 74.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Zacks Research raised shares of LendingClub from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. 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, Weiss Ratings reissued a "hold (c+)" rating on shares of LendingClub in a research report on Wednesday, May 6th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.07.

Insider Transactions at LendingClub

In other news, SVP Fergal Stack sold 60,000 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 204,977 shares of the company's stock, valued at approximately $3,894,563. The trade was a 22.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Labenne sold 20,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 234,955 shares of the company's stock, valued at approximately $3,994,235. This trade represents a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 119,750 shares of company stock worth $2,183,691. 3.19% of the stock is owned by company insiders.

LendingClub Price Performance

NYSE LC opened at $19.21 on Friday. The firm's fifty day moving average price is $18.52 and its 200 day moving average price is $17.10. LendingClub Corporation has a 12 month low of $10.74 and a 12 month high of $21.67. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.89 and a beta of 1.98.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The credit services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. LendingClub had a net margin of 16.99% and a return on equity of 11.92%. The firm had revenue of $252.25 million during the quarter, compared to analysts' expectations of $249.10 million. During the same period in the previous year, the company earned $0.10 earnings per share. LendingClub's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that LendingClub Corporation will post 1.74 earnings per share for the current year.

LendingClub 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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