602,300 Shares in LendingClub Co. (NYSE:LC) Acquired by G2 Investment Partners Management LLC

G2 Investment Partners Management LLC purchased a new position in shares of LendingClub Co. (NYSE:LC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 602,300 shares of the credit services provider's stock, valued at approximately $9,751,000. LendingClub makes up about 2.5% of G2 Investment Partners Management LLC's holdings, making the stock its 12th largest holding. G2 Investment Partners Management LLC owned 0.54% of LendingClub as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in LendingClub by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider's stock worth $441,000 after acquiring an additional 748 shares during the period. Summit Investment Advisors Inc. boosted its holdings in LendingClub by 9.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider's stock worth $187,000 after buying an additional 984 shares during the last quarter. Jones Financial Companies Lllp increased its stake in LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after buying an additional 1,975 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of LendingClub by 7.3% in the fourth 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 in the last quarter. Finally, Comerica Bank acquired a new stake in shares of LendingClub in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 74.08% of the company's stock.

LendingClub Stock Down 0.7%

NYSE LC traded down $0.07 during trading on Friday, hitting $10.54. The stock had a trading volume of 652,944 shares, compared to its average volume of 1,602,312. The company has a market capitalization of $1.20 billion, a PE ratio of 23.42 and a beta of 2.35. The firm has a 50 day moving average price of $10.27 and a 200 day moving average price of $13.49. LendingClub Co. has a twelve month low of $7.81 and a twelve month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The business had revenue of $217.71 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on LC shares. JPMorgan Chase & Co. reduced their price objective on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $10.34, for a total transaction of $54,285.00. Following the completion of the sale, the chief executive officer now directly owns 1,297,782 shares of the company's stock, valued at $13,419,065.88. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total value of $98,700.00. Following the completion of the transaction, the general counsel now owns 88,263 shares in the company, valued at approximately $1,244,508.30. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,750 shares of company stock worth $257,985 in the last quarter. 3.19% of the stock is owned by company insiders.

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.