nVerses Capital LLC Sells 1,200 Shares of LendingClub Co. (NYSE:LC)

nVerses Capital LLC lessened its holdings in LendingClub Co. (NYSE:LC) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,200 shares of the credit services provider’s stock after selling 1,200 shares during the period. nVerses Capital LLC’s holdings in LendingClub were worth $82,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC raised its stake in LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares during the period. Innealta Capital LLC bought a new stake in LendingClub during the 2nd quarter worth approximately $72,000. SG Americas Securities LLC raised its stake in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,732 shares during the period. Bayesian Capital Management LP bought a new stake in LendingClub during the 1st quarter worth approximately $129,000. Finally, Alpha Cubed Investments LLC bought a new stake in LendingClub during the 3rd quarter worth approximately $170,000. Institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

LC stock opened at $12.68 on Monday. The firm has a fifty day moving average price of $11.47 and a 200 day moving average price of $9.88. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $13.63. The firm has a market cap of $1.41 billion, a PE ratio of 37.29 and a beta of 2.04.

LendingClub (NYSE:LC) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating 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 firm had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. During the same period last year, the firm posted $0.09 earnings per share. LendingClub’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, equities analysts predict that LendingClub Co. will post 0.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $13.00 target price (up previously from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. Wedbush raised their target price on shares of LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $15.00 in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Compass Point lifted their price objective on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, LendingClub presently has a consensus rating of “Moderate Buy” and an average price target of $13.57.

Insider Activity at LendingClub

In related news, CEO Scott Sanborn sold 17,000 shares of the firm’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 transaction, the chief executive officer now directly owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 51,703 shares of company stock valued at $562,705. 3.31% of the stock is owned by corporate insiders.

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.