SteelPeak Wealth LLC Purchases Shares of 49,142 LendingClub Co. (NYSE:LC)

SteelPeak Wealth LLC acquired a new stake in shares of LendingClub Co. (NYSE:LC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 49,142 shares of the credit services provider's stock, valued at approximately $562,000.

Several other hedge funds also recently bought and sold shares of LC. Vanguard Group Inc. boosted its position in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider's stock valued at $98,502,000 after buying an additional 336,827 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of LendingClub in the first quarter valued at approximately $164,000. GSA Capital Partners LLP boosted its holdings in shares of LendingClub by 38.2% in the first quarter. GSA Capital Partners LLP now owns 143,839 shares of the credit services provider's stock valued at $1,264,000 after purchasing an additional 39,733 shares during the period. Empowered Funds LLC grew its stake in LendingClub by 8.2% in the first quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider's stock worth $2,766,000 after purchasing an additional 23,790 shares in the last quarter. Finally, Swiss National Bank increased its holdings in LendingClub by 1.0% during the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider's stock worth $1,902,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 74.08% of the company's stock.

Insider Transactions at LendingClub

In related news, Director John C. Morris sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 203,348 shares of the company's stock, valued at $2,920,077.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Morris sold 2,500 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the transaction, the director now owns 203,348 shares of the company's stock, valued at approximately $2,920,077.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,203 shares of company stock worth $598,605. Insiders own 3.31% of the company's stock.

LendingClub Stock Performance

NYSE:LC traded up $0.03 during midday trading on Friday, reaching $14.21. 1,783,317 shares of the stock traded hands, compared to its average volume of 1,461,834. The business has a 50-day moving average of $11.92 and a two-hundred day moving average of $10.18. LendingClub Co. has a 12-month low of $5.05 and a 12-month high of $15.52. The stock has a market capitalization of $1.59 billion, a PE ratio of 30.39 and a beta of 2.04.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. LendingClub had a return on equity of 4.08% and a net margin of 6.85%. The firm had revenue of $201.90 million during the quarter, compared to analysts' expectations of $190.40 million. During the same quarter last year, the firm earned $0.05 EPS. The business's quarterly revenue was up .5% on a year-over-year basis. Research analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LC shares. Piper Sandler reissued 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. StockNews.com downgraded shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of LendingClub from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, Maxim Group boosted their price objective 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. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.