Verition Fund Management LLC Invests $1.58 Million in LendingClub Co. (NYSE:LC)

Verition Fund Management LLC purchased a new stake in LendingClub Co. (NYSE:LC - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 138,283 shares of the credit services provider's stock, valued at approximately $1,581,000. Verition Fund Management LLC owned approximately 0.12% of LendingClub as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of LendingClub by 5.3% during the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider's stock worth $168,000 after buying an additional 1,000 shares in the last quarter. FMR LLC raised its stake in LendingClub by 32.1% during the third quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after acquiring an additional 1,424 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of LendingClub by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider's stock worth $2,562,000 after acquiring an additional 1,445 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider's stock valued at $104,000 after purchasing an additional 1,732 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in shares of LendingClub during the 3rd quarter valued at approximately $32,000. Institutional investors own 74.08% of the company's stock.

Insider Activity at LendingClub

In other LendingClub news, Director John C. Morris sold 2,500 shares of the firm's 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 completion of the sale, the director now directly owns 203,348 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $15.84, for a total transaction of $269,280.00. Following the transaction, the chief executive officer now owns 1,329,184 shares in the company, valued at $21,054,274.56. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,500 shares of company stock worth $1,073,100 over the last quarter. Company insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LC. Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday. StockNews.com cut LendingClub from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. Maxim Group upped their target price on LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Piper Sandler reissued an "overweight" rating and set a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. One equities 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

LendingClub Stock Performance

Shares of LC traded up $0.43 during mid-day trading on Friday, reaching $16.12. 888,358 shares of the company were exchanged, compared to its average volume of 1,572,124. The business has a 50 day simple moving average of $14.13 and a two-hundred day simple moving average of $11.44. The stock has a market capitalization of $1.81 billion, a PE ratio of 35.04 and a beta of 2.02. LendingClub Co. has a 52 week low of $6.56 and a 52 week high of $17.15.

LendingClub (NYSE:LC - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (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 during the quarter, compared to analyst estimates of $190.40 million. During the same quarter last year, the business earned $0.05 EPS. The company's revenue was up .5% compared to the same quarter last year. On average, analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

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.