22,854 Shares in LendingClub Co. (NYSE:LC) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in shares of LendingClub Co. (NYSE:LC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,854 shares of the credit services provider’s stock, valued at approximately $193,000.

A number of other hedge funds have also recently bought and sold shares of LC. International Assets Investment Management LLC raised its position in shares of LendingClub by 5.3% during the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock valued at $168,000 after buying an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its holdings in LendingClub by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 1,536 shares in the last quarter. SG Americas Securities LLC raised its holdings 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 in the last quarter. Swiss National Bank lifted its position in shares of LendingClub by 1.0% in the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after acquiring an additional 2,100 shares during the period. Finally, EntryPoint Capital LLC grew its holdings in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 2,328 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

LendingClub Stock Down 2.8 %

Shares of LC stock opened at $10.58 on Thursday. The company has a market capitalization of $1.18 billion, a P/E ratio of 31.12 and a beta of 2.04. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $12.87. The firm has a 50-day moving average price of $11.05 and a 200 day moving average price of $9.44.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share (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 analysts’ expectations of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, research analysts expect that LendingClub Co. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wedbush upped their target price on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of LendingClub from $10.00 to $11.50 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Insider Buying and Selling at LendingClub

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

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.