Rhino Investment Partners Inc Lowers Position in LendingClub Co. (NYSE:LC)

Rhino Investment Partners Inc trimmed its position in LendingClub Co. (NYSE:LC - Free Report) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,280,172 shares of the credit services provider's stock after selling 462,862 shares during the period. LendingClub comprises 4.6% of Rhino Investment Partners Inc's portfolio, making the stock its 5th biggest holding. Rhino Investment Partners Inc owned about 1.14% of LendingClub worth $20,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of LendingClub by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock valued at $11,409,000 after buying an additional 45,307 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 purchasing an additional 41,048 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of LendingClub in the fourth quarter worth $1,696,000. Invesco Ltd. raised its position in shares of 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. purchased a new position in shares of LendingClub during the 4th quarter valued at $470,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LC. StockNews.com raised LendingClub from a "sell" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. cut their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Keefe, Bruyette & Woods dropped their target price on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

LendingClub Price Performance

Shares of NYSE LC traded up $0.46 during mid-day trading on Friday, hitting $10.35. 2,252,877 shares of the company's stock traded hands, compared to its average volume of 1,629,773. The company has a market capitalization of $1.18 billion, a P/E ratio of 23.00 and a beta of 2.35. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The company's 50-day moving average is $10.47 and its two-hundred day moving average is $13.57.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $213.71 million. During the same period last year, the company earned $0.11 earnings per share. LendingClub's revenue was up 21670.0% on a year-over-year basis. Equities analysts anticipate that LendingClub Co. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the transaction, the general counsel now directly owns 88,263 shares of the company's stock, valued at $1,244,508.30. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael P. Zeisser bought 20,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the acquisition, the director now owns 174,138 shares of the company's stock, valued at $1,628,190.30. This trade represents a 12.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 39,750 shares of company stock worth $491,905 in the last three months. Corporate insiders own 3.31% of the company's stock.

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.