PDT Partners LLC Has $1.52 Million Stake in LendingClub Co. (NYSE:LC)

PDT Partners LLC reduced its stake in LendingClub Co. (NYSE:LC - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,137 shares of the credit services provider's stock after selling 65,990 shares during the period. PDT Partners LLC owned 0.08% of LendingClub worth $1,524,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock valued at $61,515,000 after buying an additional 2,961,050 shares in the last quarter. American Century Companies Inc. grew 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 valued at $30,691,000 after acquiring an additional 160,916 shares in the last quarter. Senvest Management LLC increased its position in LendingClub by 3.4% during the fourth 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 during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of LendingClub by 158.6% during 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 during the period. Finally, Northern Trust Corp raised 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 buying an additional 59,186 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

Insider Buying and Selling at LendingClub

In other news, General Counsel Jordan Cheng sold 7,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the purchase, the director now owns 174,138 shares of the company's stock, valued at $1,628,190.30. The trade was a 12.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 39,750 shares of company stock worth $491,905. 3.31% of the stock is currently owned by insiders.

LendingClub Price Performance

LC stock traded up $0.46 during trading on Friday, reaching $10.35. 2,252,877 shares of the company were exchanged, compared to its average volume of 1,629,935. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 23.00 and a beta of 2.09. The company has a 50-day moving average of $10.47 and a two-hundred day moving average of $13.57. LendingClub Co. has a twelve month low of $7.81 and a twelve month high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $217.71 million during the quarter, compared to analysts' expectations of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. LendingClub'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 EPS. On average, analysts forecast that LendingClub Co. will post 0.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on LC shares. Keefe, Bruyette & Woods lowered their price objective on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on LendingClub from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Piper Sandler reiterated an "overweight" rating and set a $19.00 price objective (down from $20.00) on shares of LendingClub in a research note 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.75.

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.