Y Intercept Hong Kong Ltd raised its position in LendingClub Corporation (NYSE:LC - Free Report) by 100.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,625 shares of the credit services provider's stock after purchasing an additional 24,363 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in LendingClub were worth $502,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in 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 worth $61,515,000 after purchasing an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of LendingClub by 229.1% during the 4th quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider's stock worth $58,103,000 after purchasing an additional 2,498,318 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in LendingClub by 196.5% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in LendingClub by 158.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider's stock valued at $24,647,000 after purchasing an additional 933,680 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC bought a new position in shares of LendingClub during the 4th quarter worth approximately $13,432,000. Institutional investors and hedge funds own 74.08% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on LC shares. Stephens began coverage on shares of LendingClub in a research note on Thursday, June 12th. They issued an "overweight" rating and a $15.00 price objective for the company. Piper Sandler set a $15.50 price target on shares of LendingClub and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of LendingClub from $14.00 to $16.50 and gave the company an "outperform" rating in a research note on Wednesday. Wall Street Zen downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, Citigroup began coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.57.
View Our Latest Analysis on LendingClub
LendingClub Stock Performance
LendingClub stock traded down $0.23 during trading hours on Thursday, hitting $15.66. The company had a trading volume of 1,106,458 shares, compared to its average volume of 1,679,448. LendingClub Corporation has a 1 year low of $7.90 and a 1 year high of $18.75. The firm has a market cap of $1.79 billion, a P/E ratio of 24.36 and a beta of 2.44. The company has a 50-day moving average price of $11.71 and a two-hundred day moving average price of $11.82.
LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.18. The company had revenue of $248.44 million for the quarter, compared to the consensus estimate of $227.04 million. LendingClub had a net margin of 8.36% and a return on equity of 5.72%. LendingClub's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, equities research analysts anticipate that LendingClub Corporation will post 0.72 EPS for the current year.
Insider Transactions at LendingClub
In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total transaction of $68,145.00. Following the completion of the transaction, the chief executive officer directly owned 1,283,175 shares in the company, valued at approximately $16,655,611.50. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 26,250 shares of company stock worth $302,610 over the last quarter. Corporate insiders own 3.19% of the company's stock.
About LendingClub
(
Free Report)
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.
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