Quantbot Technologies LP Raises Stock Holdings in LendingClub Co. (NYSE:LC)

Quantbot Technologies LP increased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 153.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,763 shares of the credit services provider's stock after buying an additional 96,053 shares during the quarter. Quantbot Technologies LP owned about 0.14% of LendingClub worth $1,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of LendingClub by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 318,222 shares of the credit services provider's stock valued at $3,637,000 after buying an additional 15,378 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in LendingClub in the 3rd quarter valued at about $411,000. Algert Global LLC boosted its stake in LendingClub by 109.9% during the 3rd quarter. Algert Global LLC now owns 307,133 shares of the credit services provider's stock valued at $3,511,000 after purchasing an additional 160,828 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in LendingClub by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,357 shares of the credit services provider's stock worth $10,303,000 after purchasing an additional 10,094 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in LendingClub during the 3rd quarter worth approximately $454,000. Institutional investors own 74.08% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on LC shares. Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Maxim Group upped their target price on shares of LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Compass Point increased their target price on shares of LendingClub from $15.00 to $19.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods upgraded shares of LendingClub from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, LendingClub has a consensus rating of "Moderate Buy" and an average price target of $15.38.

LendingClub Stock Performance

LC stock traded up $0.15 during mid-day trading on Friday, hitting $16.64. The company had a trading volume of 647,865 shares, compared to its average volume of 1,488,505. The firm has a market cap of $1.87 billion, a PE ratio of 36.17 and a beta of 2.01. LendingClub Co. has a 12 month low of $6.16 and a 12 month high of $17.15. The stock's fifty day moving average price is $13.63 and its two-hundred day moving average price is $11.22.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 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 business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. LendingClub's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current year.

Insider Transactions at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 89,385 shares in the company, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is owned by company insiders.

About LendingClub

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.