OMERS ADMINISTRATION Corp Takes $434,000 Position in LendingClub Co. (NYSE:LC)

OMERS ADMINISTRATION Corp bought a new position in LendingClub Co. (NYSE:LC) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 26,800 shares of the credit services provider’s stock, valued at approximately $434,000.

Several other hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC raised its stake in LendingClub by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after purchasing an additional 748 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of LendingClub by 9.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider’s stock worth $187,000 after buying an additional 984 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of LendingClub by 49.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock worth $97,000 after buying an additional 1,975 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in LendingClub by 7.3% in the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Comerica Bank acquired a new position in LendingClub in the fourth quarter valued at $37,000. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Price Performance

LC opened at $10.62 on Monday. LendingClub Co. has a 12-month low of $7.81 and a 12-month high of $18.75. The stock has a market capitalization of $1.21 billion, a PE ratio of 23.60 and a beta of 2.35. The firm’s fifty day moving average price is $10.26 and its 200 day moving average price is $13.38.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The company’s revenue for the quarter was up 21670.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 EPS. On average, equities research analysts forecast that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares of the company’s stock, valued at approximately $13,030,320. The trade was a 0.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Jordan Cheng sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.10, for a total transaction of $98,700.00. Following the sale, the general counsel now directly owns 88,263 shares of the company’s stock, valued at approximately $1,244,508.30. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,000 shares of company stock worth $313,898 over the last quarter. 3.19% of the stock is owned by corporate insiders.

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.