Rhino Investment Partners Inc Has $4.95 Million Stock Holdings in LendingClub Corporation $LC

Key Points

• Rhino Investment Partners Inc significantly reduced its stake in LendingClub Corporation by 62.6%, selling 800,766 shares and now holds only 479,406 shares.
• LendingClub reported earnings of $0.33 per share for the last quarter, surpassing analysts' estimates of $0.15, and saw revenue of $248.44 million, reflecting a 14.1% increase year-over-year.
• A number of institutional investors are actively acquiring shares, with Wellington Management increasing its stake by 36% and Driehaus Capital Management boosting it by 229.1% in recent months.

Rhino Investment Partners Inc reduced its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 62.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 479,406 shares of the credit services provider's stock after selling 800,766 shares during the quarter. LendingClub makes up about 1.2% of Rhino Investment Partners Inc's portfolio, making the stock its 26th biggest holding. Rhino Investment Partners Inc owned 0.42% of LendingClub worth $4,947,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in LendingClub during the first quarter worth $35,000. Comerica Bank acquired a new stake in shares of LendingClub during the 4th quarter worth about $37,000. Sterling Capital Management LLC boosted its holdings in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after buying an additional 3,119 shares during the period. KBC Group NV bought a new stake in LendingClub in the 1st quarter valued at $67,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of LendingClub by 95.4% in the first quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider's stock valued at $98,000 after acquiring an additional 4,651 shares in the last quarter. Institutional investors own 74.08% of the company's stock.

Insider Activity

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction that occurred 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 owned 1,283,175 shares of the company's stock, valued at approximately $16,655,611.50. This represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $298,950.75. Following the completion of the transaction, the chief financial officer owned 178,111 shares in the company, valued at $2,965,548.15. This trade represents a 9.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,955 shares of company stock worth $545,648 over the last ninety days. Company insiders own 3.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LC. Citigroup initiated coverage on LendingClub in a research note on Monday, July 7th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods raised their price target on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Citizens Jmp started coverage on shares of LendingClub in a research report on Monday, July 7th. They set a "market perform" rating for the company. Stephens started coverage on shares of LendingClub in a research report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 target price for the company. Finally, Wall Street Zen upgraded shares of LendingClub from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.57.

LendingClub Price Performance

NYSE LC traded up $0.19 during trading hours on Monday, reaching $16.50. The company's stock had a trading volume of 1,217,991 shares, compared to its average volume of 1,709,630. The firm has a fifty day simple moving average of $13.47 and a 200-day simple moving average of $11.78. The stock has a market cap of $1.89 billion, a P/E ratio of 25.78 and a beta of 2.46. LendingClub Corporation has a 52 week low of $7.90 and a 52 week high of $18.75.

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 analysts' expectations of $227.04 million. LendingClub had a net margin of 8.36% and a return on equity of 5.66%. The company's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. On average, research analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current 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.