Point72 DIFC Ltd Sells 13,175 Shares of LendingClub Co. (NYSE:LC)

Point72 DIFC Ltd cut its stake in LendingClub Co. (NYSE:LC) by 46.5% in the second quarter, HoldingsChannel.com reports. The fund owned 15,176 shares of the credit services provider’s stock after selling 13,175 shares during the period. Point72 DIFC Ltd’s holdings in LendingClub were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LC. Wellington Management Group LLP grew its stake in shares of LendingClub by 176.1% in 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 period. Verition Fund Management LLC purchased a new position in shares of LendingClub in the fourth quarter worth approximately $6,115,000. Vanguard Group Inc. boosted its holdings in shares of LendingClub by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after buying an additional 336,827 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of LendingClub by 24.8% in the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of LendingClub in the first quarter worth approximately $2,821,000. 74.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LC shares. Wedbush raised their price objective on shares of LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Compass Point lifted their price target on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods lifted their price target on shares of LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their price target on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LendingClub currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

LendingClub Stock Performance

LC stock opened at $11.03 on Friday. LendingClub Co. has a one year low of $4.73 and a one year high of $12.87. The company’s fifty day moving average price is $11.06 and its 200-day moving average price is $9.45. The company has a market capitalization of $1.23 billion, a PE ratio of 32.44 and a beta of 2.04.

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

Insider Transactions at LendingClub

In related 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 value of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 34,703 shares of company stock valued at $374,175. 3.31% of the stock is currently owned by corporate insiders.

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.