Interval Partners LP Increases Holdings in LendingClub Co. (NYSE:LC)

Interval Partners LP increased its position in shares of LendingClub Co. (NYSE:LC) by 54.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 495,039 shares of the credit services provider’s stock after purchasing an additional 174,130 shares during the quarter. Interval Partners LP owned 0.45% of LendingClub worth $4,188,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft acquired a new position in shares of LendingClub during the 2nd quarter worth $600,000. Wellington Management Group LLP raised its position in LendingClub by 176.1% during the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after acquiring an additional 857,371 shares during the last quarter. G2 Investment Partners Management LLC purchased a new stake in shares of LendingClub in the fourth quarter valued at about $1,758,000. Verition Fund Management LLC purchased a new position in shares of LendingClub during the 4th quarter worth approximately $6,115,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of LendingClub during the 1st quarter worth approximately $164,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on LC. StockNews.com raised LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price 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. BTIG Research started coverage on shares of LendingClub in a research note on Friday, June 7th. They set a “buy” rating and a $12.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wedbush raised their price objective on LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and an average price target of $13.07.

LendingClub Stock Performance

LC opened at $11.11 on Tuesday. The company has a 50-day moving average of $11.05 and a 200-day moving average of $9.41. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $12.87. The company has a market capitalization of $1.23 billion, a P/E ratio of 32.66 and a beta of 2.04.

LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company had revenue of $187.20 million for the quarter, compared to the consensus estimate of $177.03 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts expect that LendingClub Co. will post 0.38 earnings per share for the current fiscal 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.