151,048 Shares in LendingClub Co. (NYSE:LC) Purchased by First Trust Advisors LP

First Trust Advisors LP purchased a new position in LendingClub Co. (NYSE:LC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of LendingClub during the fourth quarter worth $45,000. Sterling Capital Management LLC increased its position in 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 in the last quarter. National Bank of Canada FI increased its position in LendingClub by 150.6% during the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its stake in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after buying an additional 1,975 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in LendingClub in the fourth quarter worth about $164,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of the firm's 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 sale, the chief executive officer now directly owns 1,303,032 shares in the company, valued at $13,030,320. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average cost of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director now directly owns 174,138 shares in the company, valued at $1,628,190.30. This trade represents a 12.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 22,750 shares of company stock valued at $257,985 in the last 90 days. 3.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $19.00 price objective (down previously from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. StockNews.com lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. One investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $15.75.

LendingClub Stock Performance

NYSE LC traded down $0.07 on Friday, reaching $10.54. 652,944 shares of the company's stock traded hands, compared to its average volume of 1,602,312. The stock has a 50 day moving average price of $10.27 and a 200-day moving average price of $13.49. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 23.42 and a beta of 2.35. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week 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 EPS for the quarter, hitting analysts' consensus estimates 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 company's revenue was up 21670.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, equities research analysts anticipate that LendingClub Co. will post 0.72 EPS for the current fiscal year.

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.