Marshall Wace LLP Takes $2.41 Million Position in LendingClub Co. (NYSE:LC)

Marshall Wace LLP purchased a new position in shares of LendingClub Co. (NYSE:LC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 285,078 shares of the credit services provider’s stock, valued at approximately $2,412,000.

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

Insider Buying and Selling at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total transaction of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares of the company’s stock, valued at $14,179,460.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 34,703 shares of company stock worth $374,175. 3.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wedbush upped their price target on LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up previously from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. Finally, BTIG Research started coverage on LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.07.

LendingClub Price Performance

Shares of NYSE:LC opened at $11.21 on Friday. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $12.87. The stock has a market cap of $1.25 billion, a P/E ratio of 32.96 and a beta of 2.04. The firm has a fifty day moving average price of $11.12 and a 200 day moving average price of $9.57.

LendingClub (NYSE:LC) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 net margin of 5.61% and a return on equity of 3.38%. The business’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 earnings per share. Sell-side analysts expect that LendingClub Co. will post 0.38 EPS for the current fiscal year.

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.