Dimensional Fund Advisors LP raised its stake in shares of LendingClub Corporation (NYSE:LC) by 142.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,672,729 shares of the credit services provider’s stock after buying an additional 2,159,066 shares during the period. Dimensional Fund Advisors LP owned approximately 0.92% of LendingClub Corporation worth $20,163,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Prudential Financial Inc. boosted its position in LendingClub Corporation by 3.6% in the first quarter. Prudential Financial Inc. now owns 21,680 shares of the credit services provider’s stock valued at $119,000 after buying an additional 760 shares during the period. Malaga Cove Capital LLC boosted its position in LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the period. Russell Investments Group Ltd. purchased a new position in LendingClub Corporation during the fourth quarter valued at approximately $177,000. Nisa Investment Advisors LLC boosted its position in LendingClub Corporation by 1,097.9% in the first quarter. Nisa Investment Advisors LLC now owns 34,740 shares of the credit services provider’s stock valued at $191,000 after buying an additional 31,840 shares during the period. Finally, Quantum Capital Management boosted its position in shares of LendingClub Corporation by 151.7% in the first quarter. Quantum Capital Management now owns 36,876 shares of the credit services provider’s stock worth $202,000 after buying an additional 22,226 shares during the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.
LendingClub Corporation (NYSE:LC) remained flat at $5.90 during trading on Friday. The stock had a trading volume of 1,144,131 shares. LendingClub Corporation has a 12-month low of $4.64 and a 12-month high of $6.78. The firm’s market cap is $2.43 billion. The stock has a 50 day moving average of $5.42 and a 200-day moving average of $5.63.
LendingClub Corporation (NYSE:LC) last posted its quarterly earnings data on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $139.60 million during the quarter, compared to analyst estimates of $134.02 million. LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities research analysts forecast that LendingClub Corporation will post $0.05 earnings per share for the current year.
A number of research firms recently weighed in on LC. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “hold” rating and set a $6.55 price target for the company. in a report on Wednesday. Credit Suisse Group reaffirmed a “neutral” rating and set a $8.00 price target on shares of LendingClub Corporation in a report on Thursday. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price target on shares of LendingClub Corporation in a report on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $6.50 price objective on shares of LendingClub Corporation in a research report on Thursday. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $6.50 price objective (up from $6.00) on shares of LendingClub Corporation in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. LendingClub Corporation currently has an average rating of “Hold” and an average target price of $6.71.
In related news, insider Sandeep Bhandari sold 69,050 shares of LendingClub Corporation stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $5.87, for a total value of $405,323.50. Following the transaction, the insider now owns 47,737 shares in the company, valued at approximately $280,216.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Sameer Gulati sold 8,305 shares of LendingClub Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $5.08, for a total transaction of $42,189.40. Following the completion of the transaction, the chief operating officer now owns 265,657 shares in the company, valued at approximately $1,349,537.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 329,149 shares of company stock valued at $1,883,699. 11.40% of the stock is owned by insiders.
About LendingClub Corporation
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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