Asset Management One Co. Ltd. Sells 1,054 Shares of LendingClub Co. (NYSE:LC)

Asset Management One Co. Ltd. decreased its position in shares of LendingClub Co. (NYSE:LC) by 16.8% in the third quarter, HoldingsChannel reports. The fund owned 5,224 shares of the credit services provider’s stock after selling 1,054 shares during the quarter. Asset Management One Co. Ltd.’s holdings in LendingClub were worth $60,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LC. AlphaMark Advisors LLC purchased a new position in shares of LendingClub in the 3rd quarter valued at approximately $32,000. EntryPoint Capital LLC raised its holdings in shares of LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,328 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of LendingClub during the second quarter worth $71,000. Innealta Capital LLC purchased a new stake in shares of LendingClub during the second quarter valued at $72,000. Finally, Blue Trust Inc. increased its position in shares of LendingClub by 259.8% in the 3rd 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 period. 74.08% of the stock is currently owned by institutional investors and hedge funds.

LendingClub Trading Up 2.9 %

LendingClub stock opened at $15.50 on Tuesday. The firm has a market cap of $1.74 billion, a PE ratio of 33.59 and a beta of 2.01. The stock’s 50 day simple moving average is $12.21 and its two-hundred day simple moving average is $10.49. LendingClub Co. has a 12 month low of $5.05 and a 12 month high of $15.72.

LendingClub (NYSE:LC) last released its quarterly 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 for the quarter, compared to analyst estimates of $190.40 million. LendingClub had a net margin of 6.85% and a return on equity of 4.02%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, equities research analysts forecast that LendingClub Co. will post 0.47 EPS for the current year.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the sale, the chief executive officer now directly owns 1,339,273 shares in the company, valued at $19,941,774.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total transaction of $253,130.00. Following the completion of the sale, the chief executive officer now owns 1,339,273 shares of the company’s stock, valued at $19,941,774.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Morris sold 2,500 shares of the company’s stock in a transaction dated 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 owns 203,348 shares of the company’s stock, valued at approximately $2,920,077.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,500 shares of company stock worth $670,680 in the last ninety days. Company insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

LC has been the subject of a number of research reports. StockNews.com cut LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Wedbush increased their price target on shares of LendingClub from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. 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 note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.38.

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.