Bayesian Capital Management LP Raises Holdings in LendingClub Co. (NYSE:LC)

Bayesian Capital Management LP increased its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 158.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,561 shares of the credit services provider's stock after purchasing an additional 26,700 shares during the quarter. Bayesian Capital Management LP's holdings in LendingClub were worth $705,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of LC. Bank of America Corp DE grew its position in LendingClub by 111.5% during the 4th quarter. Bank of America Corp DE now owns 402,033 shares of the credit services provider's stock worth $6,509,000 after acquiring an additional 211,979 shares during the last quarter. Basswood Capital Management L.L.C. bought a new stake in LendingClub during the fourth quarter worth about $8,959,000. BNP Paribas Financial Markets acquired a new position in LendingClub during the fourth quarter worth approximately $750,000. Comerica Bank bought a new position in shares of LendingClub in the fourth quarter valued at about $37,000. Finally, Northern Trust Corp grew its position in shares of LendingClub by 6.0% in the fourth quarter. Northern Trust Corp now owns 1,048,618 shares of the credit services provider's stock valued at $16,977,000 after purchasing an additional 59,186 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

LendingClub Price Performance

LendingClub stock traded down $0.07 during midday trading on Friday, hitting $10.54. 652,944 shares of the stock were exchanged, compared to its average volume of 1,602,312. The firm has a market cap of $1.20 billion, a P/E ratio of 23.42 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 has a 50 day moving average price of $10.27 and a two-hundred day moving average price of $13.49.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler restated an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. StockNews.com cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods dropped their price target on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, LendingClub presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.

Insiders Place Their Bets

In other LendingClub news, Director Michael P. Zeisser acquired 20,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was bought at an average price of $9.35 per share, with a total value of $187,000.00. Following the purchase, the director now owns 174,138 shares of the company's stock, valued at approximately $1,628,190.30. This trade represents a 12.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Jordan Cheng sold 7,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $1,244,508.30. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,750 shares of company stock worth $257,985. Company insiders own 3.19% of the company's stock.

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.