Marathon Trading Investment Management LLC Purchases New Shares in LendingClub Corporation $LC

Key Points

• Marathon Trading Investment Management LLC acquired a new stake in LendingClub Corporation, purchasing 24,300 shares valued at approximately $251,000 in the first quarter.
• Major hedge funds have significantly increased their positions in LendingClub, with Wellington Management Group lifting its stake by 353.1% and Driehaus Capital Management raising its position by 229.1% in the fourth quarter.
• Analysts currently rate LendingClub with a consensus of “Moderate Buy” and have an average price target of $16.57, reflecting positive sentiment following recent quarterly earnings that exceeded expectations.

Marathon Trading Investment Management LLC acquired a new stake in shares of LendingClub Corporation (NYSE:LC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 24,300 shares of the credit services provider's stock, valued at approximately $251,000.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of LendingClub by 111.5% during the 4th quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider's stock valued at $6,509,000 after buying an additional 211,979 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in LendingClub during the 1st quarter valued at approximately $161,000. Copperwynd Financial LLC bought a new stake in LendingClub in the first quarter worth $1,079,000. Invesco Ltd. grew its stake in shares of LendingClub by 87.1% in the fourth quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock worth $10,320,000 after acquiring an additional 296,813 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of LendingClub by 62.3% in 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 acquiring an additional 111,031 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Trading Down 4.5%

Shares of LendingClub stock traded down $0.7150 during trading on Tuesday, hitting $15.2250. 1,876,820 shares of the stock traded hands, compared to its average volume of 1,708,059. LendingClub Corporation has a 52-week low of $7.90 and a 52-week high of $18.75. The stock's fifty day simple moving average is $13.10 and its 200 day simple moving average is $11.72. The firm has a market cap of $1.75 billion, a P/E ratio of 23.79 and a beta of 2.46.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The business had revenue of $248.44 million during the quarter, compared to analyst estimates of $227.04 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that LendingClub Corporation will post 0.72 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the sale, the chief executive officer directly owned 1,283,175 shares in the company, valued at approximately $16,655,611.50. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Labenne sold 17,955 shares of LendingClub stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $16.65, for a total transaction of $298,950.75. Following the sale, the chief financial officer owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. The trade was a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,955 shares of company stock worth $545,648 in the last 90 days. 3.19% of the stock is currently owned by company insiders.

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.