LendingClub Co. (NYSE:LC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of LendingClub Co. (NYSE:LC) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 175,174 shares of the credit services provider’s stock after buying an additional 5,418 shares during the period. Rhumbline Advisers’ holdings in LendingClub were worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EntryPoint Capital LLC boosted its stake in LendingClub by 44.9% during the 1st 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. nVerses Capital LLC acquired a new position in shares of LendingClub during the second quarter worth approximately $71,000. Innealta Capital LLC bought a new position in LendingClub in the 2nd quarter worth approximately $72,000. SG Americas Securities LLC increased its position in LendingClub by 16.3% in the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,732 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in LendingClub in the 1st quarter valued at approximately $129,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LC shares. Compass Point increased their price target on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, BTIG Research began coverage on LendingClub in a report on Friday, June 7th. They set a “buy” rating and a $12.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.07.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total value of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 34,703 shares of company stock worth $374,175 in the last quarter. 3.31% of the stock is owned by company insiders.

LendingClub Price Performance

NYSE LC opened at $11.18 on Friday. LendingClub Co. has a 12 month low of $4.73 and a 12 month high of $12.87. The company has a market capitalization of $1.24 billion, a P/E ratio of 32.88 and a beta of 2.04. The company’s 50 day simple moving average is $11.03 and its 200 day simple moving average is $9.38.

LendingClub (NYSE:LC) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, analysts anticipate that LendingClub Co. will post 0.38 earnings per share for the current year.

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.