Wellington Management Group LLP Has $11.75 Million Stock Position in LendingClub Co. (NYSE:LC)

Wellington Management Group LLP grew its stake in shares of LendingClub Co. (NYSE:LC) by 176.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,344,295 shares of the credit services provider’s stock after buying an additional 857,371 shares during the quarter. Wellington Management Group LLP’s holdings in LendingClub were worth $11,749,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in LendingClub by 363.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock worth $61,000 after purchasing an additional 5,489 shares in the last quarter. Maltin Wealth Management Inc. bought a new position in shares of LendingClub during the 4th quarter valued at approximately $87,000. Acadian Asset Management LLC bought a new position in shares of LendingClub during the 3rd quarter valued at approximately $91,000. Belpointe Asset Management LLC bought a new position in shares of LendingClub during the 4th quarter valued at approximately $131,000. Finally, Cruiser Capital Advisors LLC purchased a new stake in shares of LendingClub during the 4th quarter valued at approximately $143,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

LendingClub Price Performance

NYSE LC opened at $8.23 on Thursday. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $10.92. The stock has a market capitalization of $913.96 million, a PE ratio of 24.19 and a beta of 2.07. The company’s 50 day simple moving average is $8.62 and its two-hundred day simple moving average is $8.46.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The firm had revenue of $180.69 million for the quarter, compared to analyst estimates of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, research analysts anticipate that LendingClub Co. will post 0.27 EPS for the current year.

Insider Transactions at LendingClub

In other news, Director Erin Selleck sold 4,083 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $8.88, for a total value of $36,257.04. Following the transaction, the director now owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of LendingClub from $9.50 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. BTIG Research assumed coverage on shares of LendingClub in a research note on Friday, June 7th. They set a “buy” rating and a $12.00 price target on the stock. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of LendingClub in a research note on Wednesday, May 1st. StockNews.com cut shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $9.50) on shares of LendingClub in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.17.

LendingClub Company 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.