International Assets Investment Management LLC Cuts Stock Position in LendingClub Co. (NYSE:LC)

International Assets Investment Management LLC cut its stake in LendingClub Co. (NYSE:LC) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,900 shares of the credit services provider’s stock after selling 11,500 shares during the quarter. International Assets Investment Management LLC’s holdings in LendingClub were worth $166,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LC. Jacobs Levy Equity Management Inc. lifted its position in LendingClub by 526.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after buying an additional 1,583,882 shares during the last quarter. Wellington Management Group LLP lifted its position in LendingClub by 176.1% in the fourth quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock worth $11,749,000 after buying an additional 857,371 shares during the last quarter. rhino investment partners Inc bought a new stake in LendingClub in the fourth quarter worth $6,838,000. Verition Fund Management LLC bought a new stake in LendingClub in the fourth quarter worth $6,115,000. Finally, Jackson Square Partners LLC lifted its position in LendingClub by 5.9% in the fourth quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after buying an additional 541,538 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

Insider Activity at LendingClub

In related news, Director Erin Selleck sold 4,083 shares of LendingClub stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $8.88, for a total value of $36,257.04. Following the completion of the sale, the director now directly owns 54,571 shares in the company, valued at $484,590.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.31% of the stock is currently owned by corporate insiders.

LendingClub Price Performance

LC stock opened at $8.23 on Thursday. The business has a 50-day moving average price of $8.62 and a 200 day moving average price of $8.46. The company has a market capitalization of $913.96 million, a P/E ratio of 24.19 and a beta of 2.07. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $10.92.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. The firm had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. LendingClub had a return on equity of 3.04% and a net margin of 4.69%. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts anticipate that LendingClub Co. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. BTIG Research initiated coverage on LendingClub in a research report on Friday, June 7th. They set a “buy” rating and a $12.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $11.00 target price on shares of LendingClub in a research report on Wednesday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up from $9.50) on shares of LendingClub in a research report on Wednesday, May 1st. Finally, StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.17.

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.