XTX Topco Ltd Acquires 61,685 Shares of LendingClub Corporation (NYSE:LC)

Key Points

• XTX Topco Ltd significantly increased its stake in LendingClub Corporation by 355.5% during the first quarter, owning 79,035 shares valued at approximately $816,000.
• Wall Street analysts have given LendingClub a consensus target price of $16.57, with a rating of "Moderate Buy," while Piper Sandler has set a target price of $15.50.
• LendingClub reported an earnings per share (EPS) of $0.33 for the last quarter, exceeding estimates and marking a 14.1% increase in revenue compared to the previous year.

XTX Topco Ltd increased its holdings in shares of LendingClub Corporation (NYSE:LC - Free Report) by 355.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,035 shares of the credit services provider's stock after purchasing an additional 61,685 shares during the period. XTX Topco Ltd owned approximately 0.07% of LendingClub worth $816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Comerica Bank bought a new position in shares of LendingClub during the fourth quarter valued at about $37,000. Sterling Capital Management LLC lifted its holdings in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after buying an additional 3,119 shares during the period. National Bank of Canada FI increased its holdings in 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 buying an additional 2,448 shares during the last quarter. KBC Group NV bought a new position in shares of LendingClub during the 1st quarter valued at approximately $67,000. Finally, Asset Management One Co. Ltd. boosted its holdings in LendingClub by 95.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider's stock worth $98,000 after buying an additional 4,651 shares during the period. 74.08% of the stock is owned by institutional investors.

LendingClub Stock Down 1.1%

Shares of LendingClub stock traded down $0.18 during trading hours on Tuesday, hitting $15.87. 1,843,965 shares of the company's stock traded hands, compared to its average volume of 2,515,851. The company has a market cap of $1.82 billion, a PE ratio of 24.80 and a beta of 2.46. LendingClub Corporation has a twelve month low of $7.90 and a twelve month high of $18.75. The stock has a 50 day simple moving average of $12.06 and a 200-day simple moving average of $11.76.

LendingClub (NYSE:LC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.18. The firm had revenue of $248.44 million for 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 firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, equities research analysts predict that LendingClub Corporation will post 0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Andrew Labenne sold 17,955 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $16.65, for a total value of $298,950.75. Following the sale, the chief financial officer owned 178,111 shares of the company's stock, valued at $2,965,548.15. The trade was a 9.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $12.98, for a total transaction of $68,145.00. Following the transaction, the chief executive officer owned 1,283,175 shares in the company, valued at $16,655,611.50. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,205 shares of company stock valued at $601,561 in the last quarter. 3.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on 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, July 30th. Wall Street Zen raised shares of LendingClub from a "sell" rating to a "hold" rating in a report on Saturday. Stephens began coverage on shares of LendingClub in a report on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on LendingClub from $14.00 to $16.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Citizens Jmp began coverage on LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.57.

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.