Sei Investments Co. Decreases Position in LendingClub Co. (NYSE:LC)

Sei Investments Co. trimmed its holdings in shares of LendingClub Co. (NYSE:LC) by 74.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,818 shares of the credit services provider’s stock after selling 1,095,604 shares during the quarter. Sei Investments Co.’s holdings in LendingClub were worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LC. Wellington Management Group LLP increased its stake 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 valued at $11,749,000 after purchasing an additional 857,371 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of LendingClub in the 4th quarter valued at $6,115,000. Vanguard Group Inc. raised its stake in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock worth $98,502,000 after acquiring an additional 336,827 shares during the last quarter. American Century Companies Inc. raised its stake in LendingClub by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after acquiring an additional 329,279 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in LendingClub during the 1st quarter worth about $2,821,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 completion of the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 34,703 shares of company stock valued at $374,175. Company insiders own 3.31% of the company’s stock.

LendingClub Price Performance

LC opened at $11.21 on Friday. The firm has a fifty day moving average price of $11.12 and a 200 day moving average price of $9.57. 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.

LendingClub (NYSE:LC) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share 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 business had revenue of $187.20 million during the quarter, compared to the consensus estimate of $177.03 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s revenue was down 19.5% compared to the same quarter last year. Equities analysts expect that LendingClub Co. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. Compass Point increased their price target on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, LendingClub presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

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.