LendingClub Co. (NYSE:LC) Stake Lessened by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in LendingClub Co. (NYSE:LC - Free Report) by 84.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,557 shares of the credit services provider's stock after selling 287,472 shares during the period. Empowered Funds LLC's holdings in LendingClub were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of LendingClub by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,446,014 shares of the credit services provider's stock valued at $100,610,000 after acquiring an additional 175,706 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of LendingClub by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider's stock valued at $49,901,000 after buying an additional 300,536 shares during the last quarter. American Century Companies Inc. raised its position in shares of LendingClub by 24.8% in the second 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 during the last quarter. Assenagon Asset Management S.A. raised its position in shares of LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider's stock valued at $17,351,000 after buying an additional 828,958 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of LendingClub by 3.3% in the second quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider's stock valued at $6,621,000 after buying an additional 24,927 shares during the last quarter. Institutional investors own 74.08% of the company's stock.

LendingClub Stock Performance

LC stock traded down $0.16 during midday trading on Monday, reaching $16.58. 1,764,793 shares of the company were exchanged, compared to its average volume of 1,498,181. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 36.37 and a beta of 2.01. LendingClub Co. has a 1-year low of $5.52 and a 1-year high of $17.07. The stock's 50-day simple moving average is $13.09 and its 200 day simple moving average is $10.98.

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

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Morris sold 2,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now directly owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,500 shares of company stock worth $996,940. 3.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LC has been the subject of several recent analyst reports. Wedbush raised their price objective on shares of LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. StockNews.com cut shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised shares of LendingClub from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $11.50 to $15.00 in a research report on Thursday, October 10th. Maxim Group increased their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Compass Point increased their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.38.

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.