Assenagon Asset Management S.A. raised its position in LendingClub Co. (NYSE:LC - Free Report) by 120.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,517,986 shares of the credit services provider's stock after purchasing an additional 828,958 shares during the quarter. Assenagon Asset Management S.A. owned about 1.37% of LendingClub worth $17,351,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. AlphaMark Advisors LLC bought a new stake in shares of LendingClub during the third quarter valued at about $32,000. EntryPoint Capital LLC raised its position in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider's stock worth $66,000 after buying an additional 2,328 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of LendingClub in the 2nd quarter worth approximately $71,000. Innealta Capital LLC bought a new position in shares of LendingClub in the second quarter valued at approximately $72,000. Finally, Blue Trust Inc. increased its stake in shares of LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock valued at $83,000 after acquiring an additional 5,247 shares during the period. Institutional investors own 74.08% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on LC shares. Wedbush increased their price target on LendingClub from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Thursday. StockNews.com lowered LendingClub from a "hold" rating to a "sell" rating in a report on Friday. Maxim Group lifted their target price on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday. Piper Sandler reissued an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.38.
Check Out Our Latest Stock Report on LendingClub
Insider Buying and Selling at LendingClub
In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares of the company's stock, valued at approximately $14,179,460.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 51,703 shares of company stock valued at $562,705 in the last three months. 3.31% of the stock is currently owned by company insiders.
LendingClub Stock Performance
LC traded down $0.23 during trading on Friday, reaching $13.59. The company had a trading volume of 2,429,146 shares, compared to its average volume of 1,446,909. The firm's 50-day simple moving average is $11.69 and its 200 day simple moving average is $10.02. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 35.76 and a beta of 2.04. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $15.52.
LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. On average, sell-side analysts expect that LendingClub Co. will post 0.39 EPS for the current year.
About LendingClub
(
Free Report)
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.
See Also
Before you consider LendingClub, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LendingClub wasn't on the list.
While LendingClub currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
