Legal & General Group Plc raised its stake in LendingClub Corporation (NYSE:LC) by 15.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,368 shares of the credit services provider’s stock after buying an additional 15,765 shares during the period. Legal & General Group Plc’s holdings in LendingClub Corporation were worth $649,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in LC. Russell Investments Group Ltd. acquired a new stake in LendingClub Corporation during the fourth quarter valued at about $177,000. Dimensional Fund Advisors LP increased its stake in LendingClub Corporation by 2,401.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,663 shares of the credit services provider’s stock valued at $7,947,000 after buying an additional 1,453,152 shares in the last quarter. FMR LLC acquired a new stake in LendingClub Corporation during the fourth quarter valued at about $407,000. GSA Capital Partners LLP acquired a new stake in LendingClub Corporation during the fourth quarter valued at about $166,000. Finally, Two Sigma Investments LP acquired a new stake in LendingClub Corporation during the fourth quarter valued at about $167,000. Institutional investors own 90.50% of the company’s stock.
LendingClub Corporation (LC) traded up 4.44% during mid-day trading on Thursday, reaching $5.18. 1,016,508 shares of the company traded hands. LendingClub Corporation has a 52-week low of $4.30 and a 52-week high of $6.78. The company’s market capitalization is $2.09 billion. The stock has a 50 day moving average price of $5.43 and a 200-day moving average price of $5.63.
LendingClub Corporation (NYSE:LC) last announced its quarterly earnings results on Thursday, May 4th. The credit services provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.04. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.63 million. During the same quarter last year, the business earned $0.05 EPS. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. Analysts expect that LendingClub Corporation will post $0.03 EPS for the current fiscal year.
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Several equities research analysts have issued reports on LC shares. Vetr downgraded shares of LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 price objective for the company. in a research note on Tuesday, April 11th. Morgan Stanley reiterated an “overweight” rating and set a $8.00 price objective on shares of LendingClub Corporation in a research note on Tuesday, April 18th. Stifel Nicolaus started coverage on shares of LendingClub Corporation in a research note on Wednesday, April 19th. They set a “hold” rating and a $6.00 price objective for the company. UBS AG upgraded shares of LendingClub Corporation from a “neutral” rating to a “positive” rating in a research note on Monday, May 1st. Finally, Susquehanna Bancshares Inc upgraded shares of LendingClub Corporation from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.48.
In other news, COO Sameer Gulati sold 8,305 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $5.08, for a total value of $42,189.40. Following the sale, the chief operating officer now owns 265,657 shares in the company, valued at $1,349,537.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Simon Williams sold 80,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.98, for a total transaction of $478,400.00. Following the completion of the sale, the director now owns 161,053 shares in the company, valued at approximately $963,096.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 463,239 shares of company stock worth $2,677,984. Corporate insiders own 11.40% of the company’s stock.
LendingClub Corporation Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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