Vanguard Group Inc. reduced its holdings in shares of LendingClub Co. (NYSE:LC - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,933,481 shares of the credit services provider's stock after selling 448,671 shares during the quarter. Vanguard Group Inc. owned approximately 9.97% of LendingClub worth $66,694,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP bought a new stake in LendingClub during the third quarter worth $2,970,000. American Century Companies Inc. raised its stake in shares of LendingClub by 33.2% in the third quarter. American Century Companies Inc. now owns 776,505 shares of the credit services provider's stock valued at $4,737,000 after buying an additional 193,455 shares during the period. Deutsche Bank AG raised its stake in shares of LendingClub by 15.0% in the third quarter. Deutsche Bank AG now owns 49,671 shares of the credit services provider's stock valued at $303,000 after buying an additional 6,478 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider's stock valued at $11,497,000 after buying an additional 1,583,882 shares during the period. Finally, Tudor Investment Corp Et Al raised its stake in shares of LendingClub by 4.1% in the third quarter. Tudor Investment Corp Et Al now owns 73,254 shares of the credit services provider's stock valued at $447,000 after buying an additional 2,863 shares during the period. 74.08% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, March 22nd. Wedbush restated an "outperform" rating and issued a $11.00 target price on shares of LendingClub in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, LendingClub has an average rating of "Moderate Buy" and a consensus target price of $11.30.
Check Out Our Latest Stock Analysis on LC
LendingClub Stock Performance
Shares of NYSE LC traded up $0.04 during mid-day trading on Friday, hitting $8.48. The company had a trading volume of 704,332 shares, compared to its average volume of 1,122,401. The company has a market capitalization of $936.28 million, a price-to-earnings ratio of 23.56 and a beta of 1.98. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $10.92. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $8.39 and its 200-day moving average price is $7.33.
LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The credit services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $185.60 million during the quarter, compared to analysts' expectations of $182.13 million. LendingClub had a return on equity of 3.21% and a net margin of 4.50%. The firm's quarterly revenue was down 29.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, sell-side analysts forecast that LendingClub Co. will post 0.25 earnings per share for the current year.
About LendingClub
(
Free Report)
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.
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