Voloridge Investment Management LLC Reduces Stock Holdings in LendingClub Co. (NYSE:LC)

Voloridge Investment Management LLC reduced its position in LendingClub Co. (NYSE:LC - Free Report) by 52.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,995 shares of the credit services provider's stock after selling 380,421 shares during the quarter. Voloridge Investment Management LLC owned 0.30% of LendingClub worth $5,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LC. 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 valued at $441,000 after acquiring an additional 748 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of LendingClub by 9.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider's stock valued at $187,000 after acquiring an additional 984 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after acquiring an additional 1,975 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of LendingClub by 7.3% in the 4th quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider's stock valued at $475,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of LendingClub in the 4th quarter valued at about $37,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

LendingClub Stock Down 0.8%

Shares of NYSE:LC traded down $0.08 during trading on Friday, hitting $10.05. The stock had a trading volume of 901,787 shares, compared to its average volume of 1,616,537. LendingClub Co. has a 12 month low of $7.81 and a 12 month high of $18.75. The company has a market capitalization of $1.15 billion, a PE ratio of 22.33 and a beta of 2.35. The firm's fifty day moving average is $10.09 and its 200 day moving average is $13.06.

LendingClub (NYSE:LC - Get Free Report) last announced its earnings results 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. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The firm had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. During the same quarter in the prior year, the company earned $0.11 EPS. The business's revenue was up 21670.0% compared to the same quarter last year. Equities research analysts expect that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Insider Transactions at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the transaction, the director now directly owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This represents a 12.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $10.65, for a total value of $55,912.50. Following the sale, the chief executive officer now directly owns 1,287,282 shares in the company, valued at $13,709,553.30. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,000 shares of company stock valued at $215,198. Insiders own 3.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LC shares. Wall Street Zen lowered LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods lowered their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

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.