LendingClub Corporation (NYSE:LC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in LendingClub Corporation (NYSE:LC - Free Report) by 195.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,723 shares of the credit services provider's stock after purchasing an additional 107,036 shares during the quarter. Victory Capital Management Inc. owned 0.14% of LendingClub worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in LendingClub during the fourth quarter valued at $1,696,000. Commonwealth Equity Services LLC lifted its stake in shares of LendingClub by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after purchasing an additional 748 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of LendingClub in the fourth quarter worth approximately $397,000. LPL Financial LLC bought a new stake in LendingClub during the fourth quarter valued at approximately $594,000. Finally, Arrowstreet Capital Limited Partnership raised its position in LendingClub by 158.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock worth $24,647,000 after acquiring an additional 933,680 shares during the period. 74.08% of the stock is owned by hedge funds and other institutional investors.

LendingClub Stock Performance

Shares of LendingClub stock remained flat at $15.59 during midday trading on Friday. 4,147,162 shares of the company traded hands, compared to its average volume of 2,212,391. The business has a 50-day moving average price of $11.93 and a two-hundred day moving average price of $11.83. The stock has a market capitalization of $1.78 billion, a PE ratio of 24.36 and a beta of 2.45. 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 issued its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.18. LendingClub had a return on equity of 5.72% and a net margin of 8.36%. The firm had revenue of $248.44 million for the quarter, compared to analyst estimates of $227.04 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. LendingClub's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LC. Keefe, Bruyette & Woods boosted their price target on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a report on Wednesday. Citizens Jmp started coverage on LendingClub in a report on Monday, July 7th. They issued a "market perform" rating on the stock. Citigroup started coverage on LendingClub in a research note on Monday, July 7th. They set a "market perform" rating for the company. Piper Sandler set a $15.50 price objective on LendingClub and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Stephens started coverage on LendingClub in a report on Thursday, June 12th. They set an "overweight" rating and a $15.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LendingClub currently has an average rating of "Moderate Buy" and an average target price of $16.57.

Insider Buying and Selling at LendingClub

In other LendingClub news, CFO Andrew Labenne sold 17,955 shares of the 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 of the company's stock, valued at $2,965,548.15. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total value of $68,145.00. Following the completion of the sale, the chief executive officer directly owned 1,283,175 shares in the company, valued at $16,655,611.50. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,205 shares of company stock valued at $601,561. Company insiders own 3.19% of the company's stock.

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.