Russell Investments Group Ltd. Sells 93,110 Shares of LendingClub Co. (NYSE:LC)

Russell Investments Group Ltd. decreased its position in LendingClub Co. (NYSE:LC - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,406 shares of the credit services provider's stock after selling 93,110 shares during the period. Russell Investments Group Ltd. owned about 0.24% of LendingClub worth $2,302,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its stake in LendingClub by 526.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider's stock worth $11,497,000 after purchasing an additional 1,583,882 shares during the period. Wellington Management Group LLP acquired a new stake in LendingClub in the 3rd quarter valued at $2,970,000. Nordea Investment Management AB boosted its stake in LendingClub by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 609,966 shares of the credit services provider's stock valued at $3,733,000 after buying an additional 400,189 shares in the last quarter. International Assets Investment Management LLC grew its position in LendingClub by 617.9% in the fourth quarter. International Assets Investment Management LLC now owns 265,696 shares of the credit services provider's stock valued at $2,322,000 after acquiring an additional 228,684 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of LendingClub by 33.2% during 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 acquiring an additional 193,455 shares during the period. Institutional investors own 74.08% of the company's stock.

LendingClub Price Performance

Shares of LC stock traded up $0.22 during trading hours on Wednesday, reaching $9.47. 1,192,011 shares of the company were exchanged, compared to its average volume of 1,527,521. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $10.92. The stock's fifty day moving average is $8.37 and its two-hundred day moving average is $7.87. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 27.85 and a beta of 2.00.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $180.69 million for the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. During the same quarter in the prior year, the business earned $0.13 EPS. On average, research analysts anticipate that LendingClub Co. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of LendingClub from $9.50 to $10.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 1st. Piper Sandler reiterated an "overweight" rating and issued a $10.00 target price (up previously from $9.50) on shares of LendingClub in a research note on Wednesday, May 1st. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of LendingClub in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.42.

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.