Wellington Management Group LLP Purchases 857,371 Shares of LendingClub Co. (NYSE:LC)

Wellington Management Group LLP lifted its position in LendingClub Co. (NYSE:LC) by 176.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,344,295 shares of the credit services provider’s stock after buying an additional 857,371 shares during the period. Wellington Management Group LLP owned about 1.22% of LendingClub worth $11,749,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jackson Square Partners LLC increased its holdings in LendingClub by 5.9% during the 4th quarter. Jackson Square Partners LLC now owns 9,723,943 shares of the credit services provider’s stock worth $84,987,000 after purchasing an additional 541,538 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in LendingClub by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after purchasing an additional 73,515 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in LendingClub by 526.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,884,751 shares of the credit services provider’s stock worth $11,497,000 after purchasing an additional 1,583,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in LendingClub by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock worth $7,414,000 after purchasing an additional 16,298 shares in the last quarter. Finally, TCW Group Inc. increased its holdings in LendingClub by 31.1% during the 4th quarter. TCW Group Inc. now owns 830,212 shares of the credit services provider’s stock worth $7,256,000 after purchasing an additional 196,800 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

LendingClub Stock Performance

Shares of NYSE:LC opened at $8.23 on Thursday. LendingClub Co. has a 52-week low of $4.73 and a 52-week high of $10.92. The company has a market capitalization of $913.96 million, a P/E ratio of 24.19 and a beta of 2.07. The company has a 50-day simple moving average of $8.62 and a 200 day simple moving average of $8.46.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. The business had revenue of $180.69 million during the quarter, compared to the consensus estimate of $174.52 million. During the same period last year, the business posted $0.13 EPS. As a group, equities analysts forecast that LendingClub Co. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity at LendingClub

In other LendingClub news, Director Erin Selleck sold 4,083 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $8.88, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.31% of the stock is currently owned by company insiders.

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.