Paloma Partners Management Co Buys Shares of 38,617 LendingClub Corporation (LC)

Paloma Partners Management Co purchased a new position in LendingClub Corporation (NYSE:LC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,617 shares of the credit services provider’s stock, valued at approximately $212,000.

A number of other hedge funds have also made changes to their positions in LC. BlackRock Inc. increased its stake in shares of LendingClub Corporation by 3,276.7% in the first quarter. BlackRock Inc. now owns 22,099,607 shares of the credit services provider’s stock worth $121,326,000 after buying an additional 21,445,128 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in LendingClub Corporation during the first quarter worth approximately $32,440,000. Dimensional Fund Advisors LP boosted its stake in LendingClub Corporation by 142.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,672,729 shares of the credit services provider’s stock worth $20,163,000 after buying an additional 2,159,066 shares during the period. Bank of America Corp DE boosted its stake in LendingClub Corporation by 497.0% in the first quarter. Bank of America Corp DE now owns 2,575,241 shares of the credit services provider’s stock worth $14,138,000 after buying an additional 2,143,870 shares during the period. Finally, Vanguard Group Inc. boosted its stake in LendingClub Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 27,102,968 shares of the credit services provider’s stock worth $148,795,000 after buying an additional 1,119,288 shares during the period. 91.72% of the stock is owned by institutional investors.

Shares of LendingClub Corporation (NYSE LC) traded up 2.23% during midday trading on Friday, reaching $5.96. The company’s stock had a trading volume of 12,698,049 shares. The company’s market capitalization is $2.45 billion. LendingClub Corporation has a 1-year low of $4.64 and a 1-year high of $6.78. The stock has a 50 day moving average of $5.45 and a 200-day moving average of $5.62.

LendingClub Corporation (NYSE:LC) last announced its quarterly earnings results on Monday, August 7th. The credit services provider reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). LendingClub Corporation had a negative net margin of 24.52% and a negative return on equity of 11.97%. The company had revenue of $139.60 million for the quarter, compared to analyst estimates of $134.02 million. During the same quarter last year, the business earned ($0.09) earnings per share. LendingClub Corporation’s revenue was up 35.0% compared to the same quarter last year. On average, equities research analysts anticipate that LendingClub Corporation will post $0.04 earnings per share for the current year.

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A number of analysts have recently commented on LC shares. Zacks Investment Research cut LendingClub Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Vetr cut LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.55 target price on the stock. in a research report on Wednesday. UBS AG upgraded LendingClub Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 3rd. Canaccord Genuity reiterated a “hold” rating and set a $7.00 target price on shares of LendingClub Corporation in a research report on Monday, May 15th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of LendingClub Corporation in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.78.

In other LendingClub Corporation news, insider Bradley Coleman sold 29,906 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $5.71, for a total value of $170,763.26. Following the sale, the insider now owns 76,876 shares in the company, valued at $438,961.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sandeep Bhandari sold 69,050 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $5.87, for a total transaction of $405,323.50. Following the completion of the sale, the insider now owns 47,737 shares in the company, valued at approximately $280,216.19. The disclosure for this sale can be found here. Insiders sold 329,846 shares of company stock worth $1,882,204 in the last 90 days. 11.40% of the stock is owned by company insiders.

LendingClub Corporation Company Profile

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.

Institutional Ownership by Quarter for LendingClub Corporation (NYSE:LC)

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