SG Americas Securities LLC Raises Stock Position in LendingClub Co. (NYSE:LC)

SG Americas Securities LLC increased its holdings in shares of LendingClub Co. (NYSE:LC) by 16.3% in the second quarter, Holdings Channel reports. The firm owned 12,344 shares of the credit services provider’s stock after acquiring an additional 1,732 shares during the period. SG Americas Securities LLC’s holdings in LendingClub were worth $104,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC raised its stake in shares of LendingClub by 44.9% during the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,328 shares during the period. Bayesian Capital Management LP purchased a new stake in LendingClub during the 1st quarter worth $129,000. Belpointe Asset Management LLC acquired a new position in LendingClub in the 4th quarter worth $131,000. Cruiser Capital Advisors LLC purchased a new position in LendingClub in the 4th quarter valued at about $143,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of LendingClub during the first quarter valued at about $164,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LendingClub

In related news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $8.88, for a total value of $36,257.04. Following the sale, the director now owns 54,571 shares of the company’s stock, valued at approximately $484,590.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other LendingClub news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 54,571 shares in the company, valued at $484,590.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the transaction, the chief executive officer now owns 1,383,362 shares of the company’s stock, valued at approximately $14,179,460.50. The disclosure for this sale can be found here. Insiders sold a total of 24,463 shares of company stock valued at $240,602 in the last quarter. Insiders own 3.31% of the company’s stock.

LendingClub Trading Down 0.6 %

Shares of NYSE LC opened at $12.25 on Tuesday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 36.03 and a beta of 2.06. LendingClub Co. has a twelve month low of $4.73 and a twelve month high of $12.87. The business has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $9.00.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.41%. The firm had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, equities analysts predict that LendingClub Co. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LC shares. BTIG Research initiated coverage on LendingClub in a research note on Friday, June 7th. They issued a “buy” rating and a $12.00 price target on the stock. Wedbush upped their target price on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up previously from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group raised their price objective on shares of LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

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.