PDT Partners LLC Sells 65,990 Shares of LendingClub Co. (NYSE:LC)

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

A number of other institutional investors and hedge funds also recently modified their holdings of LC. SBI Securities Co. Ltd. bought a new stake in shares of LendingClub in the fourth quarter worth $45,000. Sterling Capital Management LLC boosted its holdings in shares of LendingClub by 818.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock valued at $57,000 after buying an additional 3,119 shares during the last quarter. National Bank of Canada FI lifted its stake in LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock valued at $66,000 after acquiring an additional 2,448 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in LendingClub by 49.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock valued at $97,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in LendingClub during the fourth quarter worth approximately $164,000. 74.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler restated an "overweight" rating and issued a $19.00 price target (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. StockNews.com upgraded LendingClub from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

LendingClub Price Performance

Shares of NYSE:LC traded up $0.16 during mid-day trading on Monday, hitting $10.49. The company had a trading volume of 288,245 shares, compared to its average volume of 1,624,526. The firm has a fifty day moving average price of $10.47 and a 200 day moving average price of $13.57. The company has a market capitalization of $1.20 billion, a PE ratio of 23.28 and a beta of 2.35. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The company had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. During the same quarter in the prior year, the business posted $0.11 EPS. The firm's revenue was up 21670.0% compared to the same quarter last year. Research analysts expect that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at LendingClub

In other news, Director Michael P. Zeisser acquired 20,000 shares of LendingClub stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $9.35 per share, with a total value of $187,000.00. Following the completion of the acquisition, the director now owns 174,138 shares in the company, valued at approximately $1,628,190.30. This trade represents a 12.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the transaction, the chief executive officer now directly owns 1,292,532 shares in the company, valued at $12,925,320. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,750 shares of company stock valued at $491,905 over the last ninety days. Corporate insiders own 3.31% of the company's stock.

LendingClub 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.