LendingClub Co. (NYSE:LC) Position Trimmed by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its stake in LendingClub Co. (NYSE:LC - Free Report) by 52.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 340,995 shares of the credit services provider's stock after selling 380,421 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.30% of LendingClub worth $5,521,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of LendingClub by 353.1% during the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after purchasing an additional 2,961,050 shares in the last quarter. Driehaus Capital Management LLC raised its stake in shares of LendingClub by 229.1% during the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock valued at $58,103,000 after purchasing an additional 2,498,318 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of LendingClub by 196.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider's stock valued at $34,505,000 after purchasing an additional 1,412,568 shares in the last quarter. American Century Companies Inc. raised its stake in shares of LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock valued at $30,691,000 after purchasing an additional 160,916 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of LendingClub by 2.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,839,360 shares of the credit services provider's stock valued at $29,779,000 after purchasing an additional 49,996 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Stock Up 0.4%

LendingClub stock traded up $0.05 during midday trading on Thursday, hitting $10.13. The company's stock had a trading volume of 881,966 shares, compared to its average volume of 1,610,187. The stock's 50-day moving average price is $10.14 and its 200-day moving average price is $13.15. The company has a market capitalization of $1.16 billion, a PE ratio of 22.50 and a beta of 2.35. LendingClub Co. has a 12 month low of $7.81 and a 12 month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $217.71 million for the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business's revenue for the quarter was up 21670.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities analysts anticipate that LendingClub Co. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00. Following the transaction, the chief executive officer now owns 1,303,032 shares of the company's stock, valued at $13,030,320. The trade was a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were acquired at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the purchase, the director now owns 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 disclosure for this purchase can be found here. In the last quarter, insiders have sold 21,000 shares of company stock worth $215,198. Company insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods cut their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Wall Street Zen cut shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.75.

LendingClub 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.