26,800 Shares in LendingClub Co. (NYSE:LC) Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new position in LendingClub Co. (NYSE:LC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,800 shares of the credit services provider's stock, valued at approximately $434,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of LendingClub by 229.1% in the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock worth $58,103,000 after purchasing an additional 2,498,318 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of LendingClub by 196.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock worth $34,505,000 after buying an additional 1,412,568 shares in the last quarter. American Century Companies Inc. boosted its stake in LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock valued at $30,691,000 after buying an additional 160,916 shares during the last quarter. Finally, Senvest Management LLC boosted its stake in LendingClub by 3.4% during the fourth quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider's stock valued at $24,764,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 74.08% of the company's stock.

LendingClub Stock Performance

NYSE LC traded up $0.13 on Thursday, hitting $10.01. 815,189 shares of the stock were exchanged, compared to its average volume of 1,607,180. LendingClub Co. has a 52-week low of $7.81 and a 52-week high of $18.75. The firm has a market capitalization of $1.14 billion, a P/E ratio of 22.24 and a beta of 2.35. The stock has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $13.31.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on LC. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Insider Activity

In related news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the completion of the sale, the chief executive officer now owns 1,287,282 shares in the company, valued at $13,709,553.30. This trade represents a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael P. Zeisser bought 20,000 shares of LendingClub stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the transaction, the director now owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This trade represents a 12.98% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 21,000 shares of company stock valued at $215,198. 3.19% of the stock is currently owned by insiders.

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.