LendingClub Co. (NYSE:LC) Shares Sold by Financial Avengers Inc.

Financial Avengers Inc. reduced its position in shares of LendingClub Co. (NYSE:LC) by 28.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,000 shares of the credit services provider’s stock after selling 2,000 shares during the period. Financial Avengers Inc.’s holdings in LendingClub were worth $81,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LC. Wellington Management Group LLP grew its position in shares of LendingClub by 353.1% in the 4th quarter. Wellington Management Group LLP now owns 3,799,585 shares of the credit services provider’s stock valued at $61,515,000 after buying an additional 2,961,050 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in LendingClub by 229.1% in the fourth quarter. Driehaus Capital Management LLC now owns 3,588,799 shares of the credit services provider’s stock valued at $58,103,000 after acquiring an additional 2,498,318 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of LendingClub by 196.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,131,253 shares of the credit services provider’s stock worth $34,505,000 after purchasing an additional 1,412,568 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of LendingClub by 158.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,522,360 shares of the credit services provider’s stock worth $24,647,000 after purchasing an additional 933,680 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of LendingClub in the 4th quarter valued at about $13,432,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Price Performance

Shares of NYSE LC opened at $10.37 on Wednesday. The stock has a fifty day moving average price of $10.26 and a 200 day moving average price of $13.33. LendingClub Co. has a 1-year low of $7.81 and a 1-year high of $18.75. The company has a market cap of $1.18 billion, a PE ratio of 23.04 and a beta of 2.35.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $217.71 million during the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. LendingClub’s quarterly revenue was up 21670.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael P. Zeisser purchased 20,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average cost of $9.35 per share, with a total value of $187,000.00. Following the purchase, the director now directly owns 174,138 shares in the company, valued at $1,628,190.30. This trade represents a 12.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $10.65, for a total transaction of $55,912.50. Following the completion of the transaction, the chief executive officer now owns 1,287,282 shares of the company’s stock, valued at $13,709,553.30. This represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock valued at $215,198 over the last ninety days. Corporate insiders own 3.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LC shares. StockNews.com lowered LendingClub from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

LendingClub 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.