First Trust Advisors LP Buys Shares of 151,048 LendingClub Co. (NYSE:LC)

First Trust Advisors LP purchased a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 151,048 shares of the credit services provider's stock, valued at approximately $2,445,000. First Trust Advisors LP owned approximately 0.13% of LendingClub at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LC. JPMorgan Chase & Co. lifted its holdings in LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after buying an additional 45,307 shares during the period. Victory Capital Management Inc. lifted its stake in shares of LendingClub by 301.0% in the fourth quarter. Victory Capital Management Inc. now owns 54,687 shares of the credit services provider's stock worth $885,000 after acquiring an additional 41,048 shares during the period. Raymond James Financial Inc. bought a new stake in LendingClub in the fourth quarter valued at approximately $1,696,000. Invesco Ltd. increased its position in LendingClub by 87.1% during the 4th quarter. Invesco Ltd. now owns 637,458 shares of the credit services provider's stock valued at $10,320,000 after purchasing an additional 296,813 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in LendingClub during the 4th quarter worth approximately $470,000. 74.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $13.76, for a total value of $233,920.00. Following the transaction, the chief executive officer now owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was 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 in the company, valued at $1,628,190.30. The trade was a 12.98 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 39,750 shares of company stock worth $491,905 over the last three months. 3.31% of the stock is currently owned by insiders.

LendingClub Price Performance

Shares of LendingClub stock opened at $10.35 on Monday. The business has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $13.57. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 23.00 and a beta of 2.35. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The company had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same period in the prior year, the firm earned $0.11 earnings per share. LendingClub's revenue for the quarter was up 21670.0% on a year-over-year basis. On average, sell-side analysts expect that LendingClub Co. will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LC. Keefe, Bruyette & Woods reduced 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. JPMorgan Chase & Co. decreased their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Piper Sandler reissued an "overweight" rating and issued a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.75.

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.

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