Algert Global LLC Has $3.51 Million Holdings in LendingClub Co. (NYSE:LC)

Algert Global LLC boosted its position in LendingClub Co. (NYSE:LC - Free Report) by 109.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,133 shares of the credit services provider's stock after buying an additional 160,828 shares during the period. Algert Global LLC owned approximately 0.27% of LendingClub worth $3,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider's stock worth $17,351,000 after buying an additional 828,958 shares during the period. American Century Companies Inc. grew its holdings in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider's stock valued at $14,032,000 after buying an additional 329,279 shares in the last quarter. Interval Partners LP purchased a new position in shares of LendingClub during the 1st quarter worth $2,821,000. Dimensional Fund Advisors LP grew its holdings in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider's stock worth $49,901,000 after purchasing an additional 300,536 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of LendingClub during the 2nd quarter worth $2,412,000. Hedge funds and other institutional investors own 74.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Maxim Group raised their target price on LendingClub from $16.00 to $19.00 and gave the company a "buy" rating in a report on Friday, October 25th. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Compass Point lifted their price target on LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upgraded LendingClub from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $11.50 to $15.00 in a research note on Thursday, October 10th. Finally, StockNews.com downgraded LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.38.

LendingClub Stock Down 1.4 %

Shares of NYSE LC traded down $0.24 on Tuesday, hitting $16.34. The company had a trading volume of 831,428 shares, compared to its average volume of 1,495,405. LendingClub Co. has a 12-month low of $5.52 and a 12-month high of $17.07. The business has a 50 day moving average of $13.20 and a two-hundred day moving average of $11.03. The firm has a market capitalization of $1.84 billion, a P/E ratio of 35.52 and a beta of 2.01.

LendingClub (NYSE:LC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million for the quarter, compared to analysts' expectations of $190.40 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. LendingClub's revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the sale, the chief executive officer now owns 1,356,273 shares of the company's stock, valued at $15,041,067.57. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. The trade was a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock worth $996,940 in the last three months. 3.31% of the stock is currently owned by insiders.

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.