Wellington Management Group LLP Boosts Holdings in LendingClub Co. (NYSE:LC)

Wellington Management Group LLP raised its holdings in LendingClub Co. (NYSE:LC) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 838,535 shares of the credit services provider’s stock after purchasing an additional 148,685 shares during the period. Wellington Management Group LLP owned 0.75% of LendingClub worth $9,584,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AlphaMark Advisors LLC purchased a new stake in LendingClub in the 3rd quarter valued at approximately $32,000. FMR LLC lifted its position in shares of LendingClub by 32.1% in the third quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 1,424 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of LendingClub by 259.8% during the third quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 5,247 shares during the last quarter. nVerses Capital LLC purchased a new stake in LendingClub during the 2nd quarter worth about $71,000. Finally, Innealta Capital LLC acquired a new position in LendingClub in the 2nd quarter valued at about $72,000. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. Wedbush lifted their target price on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Compass Point increased their price target on LendingClub from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Maxim Group upped their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

LendingClub Price Performance

Shares of NYSE:LC opened at $16.56 on Monday. The business has a 50-day moving average of $14.60 and a two-hundred day moving average of $11.69. The firm has a market capitalization of $1.86 billion, a PE ratio of 36.00 and a beta of 2.02. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $17.15.

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

Insider Transactions at LendingClub

In related news, Director John C. Morris sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total transaction of $35,900.00. Following the transaction, the director now directly owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the completion of the sale, the general counsel now directly owns 89,385 shares of the company’s stock, valued at $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock valued at $1,073,100 over the last 90 days. Corporate insiders own 3.31% of the company’s stock.

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.