Tudor Investment Corp ET AL Cuts Stake in LendingClub Co. (NYSE:LC)

Tudor Investment Corp ET AL lessened its holdings in LendingClub Co. (NYSE:LC - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,075 shares of the credit services provider's stock after selling 235,549 shares during the quarter. Tudor Investment Corp ET AL's holdings in LendingClub were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of LendingClub by 353.1% in the fourth quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider's stock worth $61,515,000 after purchasing an additional 2,961,050 shares during the last quarter. American Century Companies Inc. grew its holdings in LendingClub by 9.3% in the 4th quarter. American Century Companies Inc. now owns 1,895,699 shares of the credit services provider's stock worth $30,691,000 after acquiring an additional 160,916 shares during the last quarter. Senvest Management LLC increased its position in shares of LendingClub by 3.4% in the fourth quarter. Senvest Management LLC now owns 1,529,587 shares of the credit services provider's stock valued at $24,764,000 after acquiring an additional 50,000 shares during the period. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $24,647,000 after acquiring an additional 933,680 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of LendingClub by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 998,148 shares of the credit services provider's stock worth $11,409,000 after purchasing an additional 45,307 shares during the period. 74.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction that occurred 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 owns 1,292,532 shares in the company, valued at approximately $12,925,320. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael P. Zeisser purchased 20,000 shares of LendingClub stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, with a total value of $187,000.00. Following the transaction, the director now directly owns 174,138 shares of the company's stock, valued at $1,628,190.30. This represents 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 have sold 22,750 shares of company stock valued at $257,985. 3.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

LendingClub Price Performance

Shares of LendingClub stock opened at $10.54 on Friday. LendingClub Co. has a 1 year low of $7.81 and a 1 year high of $18.75. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 23.42 and a beta of 2.35. The company has a 50-day moving average of $10.27 and a 200 day moving average of $13.49.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $217.71 million during the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The business's revenue was up 21670.0% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. On average, equities analysts anticipate that LendingClub Co. will post 0.72 EPS for the current year.

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.

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