Bayesian Capital Management LP Buys 26,700 Shares of LendingClub Co. (NYSE:LC)

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

Several other institutional investors and hedge funds also recently bought and sold shares of LC. Wellington Management Group LLP lifted its holdings in shares of LendingClub by 353.1% during the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock worth $61,515,000 after acquiring an additional 2,961,050 shares during the last quarter. American Century Companies Inc. increased its position in shares of LendingClub by 9.3% during the fourth quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock valued at $30,691,000 after buying an additional 160,916 shares during the period. Senvest Management LLC raised its position in shares of LendingClub by 3.4% in the 4th quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider's stock worth $24,764,000 after acquiring an additional 50,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 worth $24,647,000 after purchasing an additional 933,680 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in LendingClub by 6.0% in the fourth quarter. Northern Trust Corp now owns 1,048,618 shares of the credit services provider's stock worth $16,977,000 after purchasing an additional 59,186 shares during the period. 74.08% of the stock is owned by institutional investors.

LendingClub Price Performance

Shares of LendingClub stock traded up $0.37 on Thursday, reaching $10.65. 821,483 shares of the company were exchanged, compared to its average volume of 1,616,362. The company has a market cap of $1.22 billion, a P/E ratio of 23.66 and a beta of 2.35. The stock's 50 day moving average price is $10.33 and its 200-day moving average price is $13.51. LendingClub Co. has a 1-year low of $7.81 and a 1-year 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, meeting the consensus estimate of $0.10. The business had revenue of $217.71 million during 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 period in the prior year, the company earned $0.11 earnings per share. On average, research analysts predict that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,303,032 shares in the company, valued at approximately $13,030,320. This represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 7,000 shares of LendingClub stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.10, for a total transaction of $98,700.00. Following the completion of the sale, 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. Over the last ninety days, insiders sold 22,750 shares of company stock valued at $257,985. 3.19% of the stock is owned by insiders.

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.