Intech Investment Management LLC Takes Position in LendingClub Co. (NYSE:LC)

Intech Investment Management LLC purchased a new position in LendingClub Co. (NYSE:LC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 39,739 shares of the credit services provider’s stock, valued at approximately $454,000.

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings 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 valued at $168,000 after purchasing an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of LendingClub by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of 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. AlphaMark Advisors LLC acquired a new position in LendingClub during the third quarter valued at approximately $32,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of LendingClub by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 70,715 shares of the credit services provider’s stock worth $622,000 after buying an additional 4,479 shares during the last quarter. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LendingClub

In related news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $996,940 in the last quarter. 3.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LC has been the subject of several recent analyst reports. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Maxim Group boosted their price target on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised LendingClub from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.50 to $15.00 in a report on Thursday, October 10th. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

LendingClub Price Performance

Shares of LC stock opened at $15.81 on Tuesday. The stock has a market capitalization of $1.78 billion, a PE ratio of 34.36 and a beta of 2.01. LendingClub Co. has a one year low of $6.56 and a one year high of $17.15. The business’s 50 day simple moving average is $13.73 and its 200 day simple moving average is $11.28.

LendingClub (NYSE:LC) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, research analysts expect that LendingClub Co. will post 0.47 earnings per share for the current year.

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.