Range Financial Group LLC Makes New Investment in LendingClub Co. (NYSE:LC)

Range Financial Group LLC acquired a new position in shares of LendingClub Co. (NYSE:LC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 93,250 shares of the credit services provider's stock, valued at approximately $1,510,000. Range Financial Group LLC owned about 0.08% of LendingClub as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new position in shares of LendingClub in the third quarter worth about $32,000. FMR LLC grew its stake in LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock valued at $67,000 after buying an additional 1,424 shares in the last quarter. Blue Trust Inc. grew its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock valued at $83,000 after buying an additional 5,247 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in shares of LendingClub in the third quarter worth $170,000. Finally, Princeton Capital Management LLC bought a new stake in shares of LendingClub during the 3rd quarter valued at $171,000. Institutional investors own 74.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on LC shares. Keefe, Bruyette & Woods lifted their target price on LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler boosted their price objective on shares of LendingClub from $15.00 to $20.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $17.00 target price (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. StockNews.com lowered shares of LendingClub from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Finally, Compass Point upped their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, LendingClub currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.63.

Insiders Place Their Bets

In related news, 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 sale, the director now directly owns 203,348 shares of the company's stock, valued at $2,920,077.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $16.12, for a total value of $274,040.00. Following the transaction, the chief executive officer now directly owns 1,312,184 shares of the company's stock, valued at $21,152,406.08. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,500 shares of company stock valued at $1,158,610 in the last ninety days. Company insiders own 3.31% of the company's stock.

LendingClub Stock Performance

LC traded down $0.92 during midday trading on Tuesday, hitting $16.31. The stock had a trading volume of 1,980,054 shares, compared to its average volume of 1,579,686. LendingClub Co. has a 1 year low of $7.48 and a 1 year high of $18.75. The business has a fifty day moving average of $15.90 and a 200 day moving average of $12.65. The company has a market cap of $1.83 billion, a P/E ratio of 35.46 and a beta of 2.03.

LendingClub (NYSE:LC - Get Free Report) last posted its quarterly 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. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current year.

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.