LendingClub Corporation $LC Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in LendingClub Corporation (NYSE:LC) by 34.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 203,490 shares of the credit services provider’s stock after selling 105,109 shares during the quarter. Quantbot Technologies LP owned 0.18% of LendingClub worth $2,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC purchased a new position in LendingClub during the second quarter valued at approximately $1,202,000. Hsbc Holdings PLC grew its stake in shares of LendingClub by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 43,134 shares of the credit services provider’s stock worth $522,000 after purchasing an additional 3,958 shares during the period. Capital Fund Management S.A. increased its holdings in shares of LendingClub by 183.9% during the 2nd quarter. Capital Fund Management S.A. now owns 213,008 shares of the credit services provider’s stock valued at $2,562,000 after purchasing an additional 137,972 shares in the last quarter. Inceptionr LLC acquired a new position in shares of LendingClub in the 2nd quarter valued at $163,000. Finally, Prudential Financial Inc. boosted its holdings in LendingClub by 9.8% during the second quarter. Prudential Financial Inc. now owns 67,997 shares of the credit services provider’s stock worth $818,000 after buying an additional 6,048 shares in the last quarter. 74.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 30,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $19.29, for a total transaction of $578,700.00. Following the transaction, the chief executive officer owned 1,210,070 shares of the company’s stock, valued at approximately $23,342,250.30. The trade was a 2.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Labenne sold 20,903 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.04, for a total transaction of $356,187.12. Following the sale, the chief financial officer owned 181,750 shares of the company’s stock, valued at approximately $3,097,020. The trade was a 10.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,903 shares of company stock worth $1,446,087 in the last three months. 3.19% of the stock is currently owned by corporate insiders.

LendingClub Trading Down 0.5%

Shares of NYSE LC opened at $19.44 on Friday. The stock has a market cap of $2.24 billion, a PE ratio of 22.09 and a beta of 2.14. LendingClub Corporation has a 12-month low of $7.90 and a 12-month high of $19.88. The company has a 50-day moving average of $16.97 and a 200 day moving average of $14.86.

LendingClub (NYSE:LC) last released its earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $107.79 million for the quarter, compared to analyst estimates of $256.27 million. LendingClub had a net margin of 10.94% and a return on equity of 7.68%. The business’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. On average, sell-side analysts forecast that LendingClub Corporation will post 0.72 EPS for the current fiscal year.

LendingClub declared that its board has authorized a stock repurchase plan on Wednesday, November 5th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LendingClub in a report on Tuesday. Janney Montgomery Scott upped their price target on LendingClub from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Citizens Jmp raised LendingClub from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. upped their target price on LendingClub from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Zacks Research upgraded LendingClub from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.57.

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.