Strs Ohio Purchases Shares of 53,700 LendingClub Corporation $LC

Key Points

• Strs Ohio has acquired 53,700 shares of LendingClub Corporation in the first quarter, totaling approximately $554,000, indicating strong institutional interest in the company.
• CEO Scott Sanborn sold 30,000 shares worth $511,200, reducing his ownership by 2.36%, while corporate insiders have collectively sold over 111,000 shares in recent months.
• LendingClub received positive ratings from several analysts, with a current consensus rating of "Moderate Buy" and a target price set at approximately $16.57.

Strs Ohio bought a new position in LendingClub Corporation (NYSE:LC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 53,700 shares of the credit services provider's stock, valued at approximately $554,000.

Other large investors also recently modified their holdings of the company. Quarry LP raised its stake in shares of LendingClub by 1,427.2% in the first quarter. Quarry LP now owns 2,810 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 2,626 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in LendingClub in the first quarter valued at $35,000. KBC Group NV bought a new stake in LendingClub in the first quarter valued at $67,000. Asset Management One Co. Ltd. grew its position in 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 during the period. Finally, Vident Advisory LLC bought a new stake in LendingClub in the first quarter valued at $118,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Trading Down 1.4%

Shares of NYSE LC traded down $0.25 during mid-day trading on Tuesday, reaching $17.42. 448,230 shares of the company's stock were exchanged, compared to its average volume of 1,670,527. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 27.27 and a beta of 2.53. The business has a fifty day simple moving average of $15.55 and a 200 day simple moving average of $12.37. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.18. The company had revenue of $248.44 million for the quarter, compared to analyst estimates of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.LendingClub's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

LC has been the topic of a number of analyst reports. Citizens Jmp initiated coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating on the stock. Citigroup initiated coverage on LendingClub in a research report on Monday, July 7th. They issued a "market perform" rating on the stock. Stephens assumed coverage on LendingClub in a research report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price target on the stock. Keefe, Bruyette & Woods increased their target price on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Piper Sandler set a $15.50 target price on LendingClub and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.57.

Insider Buying and Selling

In related news, CFO Andrew Labenne sold 20,903 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.04, for a total transaction of $356,187.12. Following the completion of the transaction, the chief financial officer directly owned 181,750 shares in the company, valued at approximately $3,097,020. This trade represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.65, for a total value of $499,500.00. Following the transaction, the chief executive officer owned 1,270,070 shares of the company's stock, valued at approximately $21,146,665.50. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,748 shares of company stock worth $1,840,123. 3.31% of the stock is owned by corporate 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.