LendingClub Co. (NYSE:LC) Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in LendingClub Co. (NYSE:LC) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,087 shares of the credit services provider’s stock after buying an additional 11,342 shares during the quarter. SG Americas Securities LLC owned about 0.29% of LendingClub worth $3,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LC. Comerica Bank bought a new position in LendingClub in the 4th quarter worth approximately $37,000. SBI Securities Co. Ltd. acquired a new stake in LendingClub in the fourth quarter worth approximately $45,000. Sterling Capital Management LLC lifted its position in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 3,119 shares during the period. National Bank of Canada FI lifted its position in LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,448 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after purchasing an additional 1,975 shares during the period. 74.08% of the stock is owned by institutional investors.

Insider Activity

In other LendingClub news, Director Michael P. Zeisser bought 20,000 shares of LendingClub stock in a transaction dated Wednesday, April 30th. The stock was bought at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the acquisition, the director now directly owns 174,138 shares of the company’s stock, valued at approximately $1,628,190.30. This trade represents a 12.98% increase 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 5,250 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $10.34, for a total value of $54,285.00. Following the completion of the sale, the chief executive officer now owns 1,297,782 shares of the company’s stock, valued at $13,419,065.88. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,250 shares of company stock worth $269,273. Insiders own 3.19% of the company’s stock.

LendingClub Stock Performance

Shares of NYSE:LC opened at $10.47 on Friday. LendingClub Co. has a one year low of $7.81 and a one year high of $18.75. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $12.73. The company has a market capitalization of $1.20 billion, a PE ratio of 23.26 and a beta of 2.41.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LC. Stephens began coverage on LendingClub in a research report on Thursday. They issued an “overweight” rating and a $15.00 target price for the company. JPMorgan Chase & Co. cut their target price on LendingClub from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods cut their target price on LendingClub from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, LendingClub presently has an average rating of “Moderate Buy” and an average price target of $16.13.

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.