Jump Financial LLC Has $2.14 Million Position in LendingClub Corporation $LC

Key Points

• Jump Financial LLC has significantly increased its stake in LendingClub Corporation by 64.5%, now owning approximately 0.18% of the company valued at around $2.14 million.
• Multiple hedge funds, including Bank of America and UBS AM, have also boosted their positions in LendingClub, reflecting a growing interest, with 74.08% of the stock now owned by institutional investors.
• The stock is currently rated as a "Moderate Buy" by analysts, with a target price consensus of $16.57 following positive quarterly earnings that exceeded expectations.

Jump Financial LLC increased its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 64.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,769 shares of the credit services provider's stock after buying an additional 81,487 shares during the period. Jump Financial LLC owned about 0.18% of LendingClub worth $2,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of LendingClub by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,943 shares of the credit services provider's stock valued at $10,371,000 after acquiring an additional 80,100 shares during the last quarter. Bank of America Corp DE boosted its holdings in LendingClub by 111.5% in the fourth quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider's stock valued at $6,509,000 after purchasing an additional 211,979 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in LendingClub in the first quarter valued at approximately $161,000. Copperwynd Financial LLC purchased a new position in shares of LendingClub during the first quarter worth about $1,079,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of LendingClub by 62.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 289,251 shares of the credit services provider's stock worth $4,683,000 after purchasing an additional 111,031 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Stock Performance

LC traded down $0.06 on Monday, reaching $17.19. 1,487,017 shares of the company's stock were exchanged, compared to its average volume of 1,601,294. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75. The company's 50 day moving average is $14.04 and its 200-day moving average is $11.91. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 26.86 and a beta of 2.53.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. The firm had revenue of $248.44 million during the quarter, compared to the consensus estimate of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. Sell-side analysts forecast that LendingClub Corporation will post 0.72 EPS for the current year.

Insider Activity

In other news, CFO Andrew Labenne sold 17,955 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer directly owned 178,111 shares in the company, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total value of $68,145.00. Following the transaction, the chief executive officer owned 1,283,175 shares of the company's stock, valued at $16,655,611.50. This represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,955 shares of company stock valued at $545,648 in the last three months. Insiders own 3.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LC shares. Piper Sandler set a $15.50 price objective on shares of LendingClub and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price objective on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citizens Jmp began coverage on LendingClub in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Finally, Citigroup started coverage on LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.57.

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.