Dark Forest Capital Management LP Decreases Holdings in LendingClub Co. (NYSE:LC)

Dark Forest Capital Management LP decreased its position in shares of LendingClub Co. (NYSE:LC) by 77.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,825 shares of the credit services provider’s stock after selling 101,495 shares during the quarter. Dark Forest Capital Management LP’s holdings in LendingClub were worth $252,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of LendingClub by 5.3% during the 2nd quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock worth $168,000 after purchasing an additional 1,000 shares during the last quarter. ProShare Advisors LLC raised its position in shares of LendingClub by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock worth $172,000 after purchasing an additional 1,536 shares during the last quarter. SG Americas Securities LLC raised its position in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,732 shares during the last quarter. Swiss National Bank raised its position in shares of LendingClub by 1.0% during the 1st quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after purchasing an additional 2,100 shares during the last quarter. Finally, EntryPoint Capital LLC raised its position 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 during the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

LendingClub Stock Up 2.1 %

LC stock opened at $11.03 on Monday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 32.44 and a beta of 2.04. The business has a fifty day simple moving average of $11.07 and a 200-day simple moving average of $9.48. LendingClub Co. has a 52 week low of $4.73 and a 52 week high of $12.87.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The business 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 business’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. As a group, analysts expect that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the company’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 sale, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 34,703 shares of company stock worth $374,175 in the last ninety days. Insiders own 3.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BTIG Research assumed coverage on LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 price objective for the company. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods boosted their price target on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Compass Point boosted their price target on LendingClub from $13.00 to $15.00 and gave the company a “buy” 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 data from MarketBeat.com, the company has an average 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.