Intech Investment Management LLC Takes $454,000 Position in LendingClub Co. (NYSE:LC)

Intech Investment Management LLC bought a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 39,739 shares of the credit services provider's stock, valued at approximately $454,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft acquired a new stake in shares of LendingClub during the 2nd quarter valued at about $600,000. GSA Capital Partners LLP boosted its holdings in LendingClub by 47.3% during the third quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider's stock valued at $2,448,000 after purchasing an additional 68,791 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of LendingClub by 813.3% in the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider's stock valued at $2,077,000 after purchasing an additional 161,837 shares during the period. Quest Partners LLC raised its holdings in shares of LendingClub by 196.0% in the 3rd quarter. Quest Partners LLC now owns 141,214 shares of the credit services provider's stock worth $1,614,000 after buying an additional 93,506 shares in the last quarter. Finally, Interval Partners LP lifted its position in shares of LendingClub by 54.3% during the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider's stock worth $4,188,000 after buying an additional 174,130 shares during the period. 74.08% of the stock is owned by institutional investors.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the transaction, the chief executive officer now directly owns 1,339,273 shares in the company, valued at approximately $19,941,774.97. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, the general counsel now directly owns 89,385 shares of the company's stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is owned by insiders.

LendingClub Stock Down 0.5 %

LC stock traded down $0.08 during trading on Tuesday, hitting $15.74. The company had a trading volume of 805,028 shares, compared to its average volume of 1,493,618. The firm has a 50-day moving average price of $13.73 and a 200-day moving average price of $11.28. LendingClub Co. has a 12 month low of $6.56 and a 12 month high of $17.15. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 34.22 and a beta of 2.02.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Equities analysts expect that LendingClub Co. will post 0.47 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Compass Point increased their price objective on LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a report on Monday. StockNews.com downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Wedbush upped their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

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.