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

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

A number of other hedge funds also recently made changes to their positions in LC. Barclays PLC raised its stake in shares of LendingClub by 206.6% during the third quarter. Barclays PLC now owns 225,902 shares of the credit services provider's stock valued at $2,582,000 after purchasing an additional 152,224 shares during the period. SG Americas Securities LLC increased its stake in shares of LendingClub by 699.5% in the fourth quarter. SG Americas Securities LLC now owns 318,745 shares of the credit services provider's stock worth $5,160,000 after buying an additional 278,879 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of LendingClub in the fourth quarter worth $280,000. Highland Capital Management LLC bought a new stake in shares of LendingClub in the fourth quarter worth $180,000. Finally, Entropy Technologies LP bought a new stake in shares of LendingClub in the fourth quarter worth $199,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LC. Wall Street Zen lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Piper Sandler restated an "overweight" rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price target on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

LendingClub Trading Down 1.2%

LendingClub stock traded down $0.13 during mid-day trading on Friday, reaching $9.89. The company's stock had a trading volume of 892,903 shares, compared to its average volume of 1,615,195. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 21.97 and a beta of 2.35. The business has a 50 day moving average price of $10.21 and a 200-day moving average price of $13.24. LendingClub Co. has a twelve month low of $7.81 and a twelve month high of $18.75.

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

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.