Rhino Investment Partners Inc Sells 462,862 Shares of LendingClub Co. (NYSE:LC)

Rhino Investment Partners Inc cut its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 26.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,280,172 shares of the credit services provider's stock after selling 462,862 shares during the period. LendingClub makes up about 4.6% of Rhino Investment Partners Inc's portfolio, making the stock its 5th largest holding. Rhino Investment Partners Inc owned 1.14% of LendingClub worth $20,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of 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 valued at $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of LendingClub by 9.3% in the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock worth $30,691,000 after buying an additional 160,916 shares in the last quarter. Senvest Management LLC grew its holdings in shares of LendingClub by 3.4% in the fourth quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider's stock valued at $24,764,000 after purchasing an additional 50,000 shares during the period. Arrowstreet Capital Limited Partnership raised its position in LendingClub by 158.6% in the fourth 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 period. Finally, Northern Trust Corp lifted its stake in LendingClub by 6.0% during the 4th quarter. Northern Trust Corp now owns 1,048,618 shares of the credit services provider's stock worth $16,977,000 after acquiring an additional 59,186 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company's stock.

Insider Buying and Selling at LendingClub

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average price of $9.35 per share, with a total value of $187,000.00. Following the completion of the transaction, the director now owns 174,138 shares in the company, valued at $1,628,190.30. The trade was a 12.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $13.76, for a total transaction of $233,920.00. Following the completion of the sale, the chief executive officer now directly owns 1,295,184 shares in the company, valued at $17,821,731.84. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,750 shares of company stock valued at $491,905. 3.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

LendingClub Trading Down 2.1 %

NYSE:LC traded down $0.22 during mid-day trading on Tuesday, hitting $10.08. The company had a trading volume of 517,039 shares, compared to its average volume of 1,789,038. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 22.42 and a beta of 2.35. The business has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $13.56.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The firm had revenue of $217.71 million for the quarter, compared to the consensus estimate of $213.71 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm's quarterly revenue was up 21670.0% on a year-over-year basis. As a group, research analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current year.

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.