Teacher Retirement System of Texas Sells 36,376 Shares of LendingClub Corporation (NYSE:LC)

Teacher Retirement System of Texas decreased its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,058 shares of the credit services provider's stock after selling 36,376 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of LendingClub worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LC. Comerica Bank acquired a new stake in LendingClub during the 4th quarter worth about $37,000. Sterling Capital Management LLC raised its holdings in shares of LendingClub by 818.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after acquiring an additional 3,119 shares during the period. National Bank of Canada FI raised its holdings in shares of LendingClub by 150.6% during the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after acquiring an additional 2,448 shares during the period. KBC Group NV purchased a new stake in shares of LendingClub in the 1st quarter valued at approximately $67,000. Finally, Jones Financial Companies Lllp boosted its stake in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after purchasing an additional 1,975 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LC shares. Wall Street Zen lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup assumed coverage on LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. Stephens initiated coverage on LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Citizens Jmp assumed coverage on LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.13.

Insiders Place Their Bets

In other news, Director Michael P. Zeisser acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the transaction, the director directly owned 174,138 shares in the company, valued at approximately $1,628,190.30. This represents a 12.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott Sanborn sold 5,250 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total value of $54,285.00. Following the sale, the chief executive officer directly owned 1,297,782 shares in the company, valued at $13,419,065.88. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,500 shares of company stock worth $341,250. 3.31% of the stock is currently owned by company insiders.

LendingClub Trading Down 0.1%

LC stock traded down $0.02 during trading on Monday, hitting $12.69. 1,487,924 shares of the stock traded hands, compared to its average volume of 1,599,507. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 28.83 and a beta of 2.44. LendingClub Corporation has a one year low of $7.90 and a one year high of $18.75. The company has a 50 day simple moving average of $11.04 and a 200 day simple moving average of $12.05.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $217.71 million during the quarter, compared to analysts' expectations of $213.71 million. LendingClub had a return on equity of 4.04% and a net margin of 6.16%. The firm's revenue for the quarter was up 21670.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

About LendingClub

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.