Trexquant Investment LP Has $1.94 Million Holdings in LendingClub Corporation $LC

Key Points

• Trexquant Investment LP has significantly reduced its stake in LendingClub Corporation by 52.0%, now owning approximately 0.16% of the company following the sale of over 203,000 shares.
• LendingClub's stock has demonstrated a 1-year low of $7.90 and a 1-year high of $18.75, with the current market cap standing at $1.91 billion.
• In the latest quarter, LendingClub reported earnings of $0.33 per share, exceeding analysts' expectations, and revenues increased by 14.1% year-over-year.

Trexquant Investment LP decreased its position in LendingClub Corporation (NYSE:LC - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,162 shares of the credit services provider's stock after selling 203,798 shares during the quarter. Trexquant Investment LP owned about 0.16% of LendingClub worth $1,942,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC lifted its holdings in shares of LendingClub by 1.2% in the first quarter. SummerHaven Investment Management LLC now owns 90,565 shares of the credit services provider's stock valued at $935,000 after buying an additional 1,066 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of LendingClub by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,230 shares of the credit services provider's stock valued at $178,000 after buying an additional 1,730 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of LendingClub by 9.5% in the first quarter. Citizens Financial Group Inc. RI now owns 23,120 shares of the credit services provider's stock valued at $239,000 after buying an additional 2,000 shares during the period. Comerica Bank acquired a new stake in shares of LendingClub in the fourth quarter valued at $37,000. Finally, Highland Capital Management LLC lifted its holdings in shares of LendingClub by 24.4% in the first quarter. Highland Capital Management LLC now owns 13,841 shares of the credit services provider's stock valued at $143,000 after buying an additional 2,717 shares during the period. Institutional investors and hedge funds own 74.08% of the company's stock.

LendingClub Price Performance

LendingClub stock traded down $0.24 during mid-day trading on Wednesday, hitting $16.25. The company's stock had a trading volume of 1,094,992 shares, compared to its average volume of 1,386,394. The firm's 50 day moving average is $14.80 and its 200 day moving average is $12.08. The company has a market cap of $1.86 billion, a PE ratio of 25.38 and a beta of 2.53. 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 data on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.18. The firm had revenue of $248.44 million during the quarter, compared to the consensus estimate of $227.04 million. LendingClub had a return on equity of 5.66% and a net margin of 8.36%.The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. As a group, analysts forecast that LendingClub Corporation will post 0.72 EPS for the current year.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief executive officer directly owned 1,270,070 shares of the company's stock, valued at approximately $21,146,665.50. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Labenne sold 17,955 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the completion of the sale, the chief financial officer directly owned 178,111 shares of the company's stock, valued at approximately $2,965,548.15. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,095 shares of company stock valued at $1,031,273. Corporate insiders own 3.19% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LC. Wall Street Zen upgraded LendingClub from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Stephens started coverage on LendingClub in a report on Thursday, June 12th. They set an "overweight" rating and a $15.00 target price for the company. Citigroup started coverage on LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods upped their target price on LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Citizens Jmp started coverage on LendingClub in a report on Monday, July 7th. They set a "market perform" rating for the company. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, LendingClub has a consensus rating of "Moderate Buy" and an average target price of $16.57.

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.