Captrust Financial Advisors Makes New Investment in LendingClub Co. (NYSE:LC)

Captrust Financial Advisors bought a new stake in LendingClub Co. (NYSE:LC) during the third quarter, HoldingsChannel reports. The institutional investor bought 20,756 shares of the credit services provider’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of LendingClub by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock valued at $49,901,000 after buying an additional 300,536 shares in the last quarter. American Century Companies Inc. increased its holdings in LendingClub by 24.8% during 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 period. Assenagon Asset Management S.A. increased its holdings in LendingClub by 120.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after acquiring an additional 828,958 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in LendingClub by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,357 shares of the credit services provider’s stock worth $10,303,000 after acquiring an additional 10,094 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of LendingClub by 3.3% in the 2nd quarter. Bank of Montreal Can now owns 782,627 shares of the credit services provider’s stock worth $6,621,000 after buying an additional 24,927 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at LendingClub

In other news, General Counsel Jordan Cheng sold 22,000 shares of LendingClub stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the sale, the general counsel now owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. The trade was a 19.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total transaction of $188,530.00. Following the sale, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,500 shares of company stock worth $1,073,100. 3.31% of the stock is currently owned by company insiders.

LendingClub Trading Up 1.4 %

LC stock opened at $16.56 on Monday. The firm’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $11.69. LendingClub Co. has a 12-month low of $7.48 and a 12-month high of $17.15. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 36.00 and a beta of 2.02.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts predict that LendingClub Co. will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LC shares. Compass Point increased their price target on shares of LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of LendingClub in a report on Monday, December 2nd. StockNews.com lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Maxim Group increased their target price on shares of LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler reaffirmed 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, LendingClub currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.