LendingClub Co. (NYSE:LC) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its position in LendingClub Co. (NYSE:LC) by 26.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233,339 shares of the credit services provider’s stock after selling 85,447 shares during the period. Acadian Asset Management LLC owned approximately 0.21% of LendingClub worth $1,973,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in shares of LendingClub in the second quarter worth $600,000. Wellington Management Group LLP grew its position in LendingClub by 176.1% in the 4th quarter. Wellington Management Group LLP now owns 1,344,295 shares of the credit services provider’s stock valued at $11,749,000 after buying an additional 857,371 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in shares of LendingClub during the 4th quarter worth about $1,758,000. Verition Fund Management LLC acquired a new stake in shares of LendingClub in the 4th quarter worth approximately $6,115,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of LendingClub in the first quarter valued at approximately $164,000. 74.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of LendingClub stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at approximately $15,600,381.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 34,703 shares of company stock worth $374,175. 3.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LC. Jefferies Financial Group upped their target price on LendingClub from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods raised their target price on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $13.00 price target (up from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. Finally, Compass Point boosted their target price on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.07.

LendingClub Trading Up 1.1 %

LC stock opened at $10.85 on Friday. LendingClub Co. has a one year low of $4.73 and a one year high of $12.87. The firm has a 50-day moving average of $10.81 and a two-hundred day moving average of $9.28. The firm has a market capitalization of $1.21 billion, a PE ratio of 31.91 and a beta of 2.04.

LendingClub (NYSE:LC) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, equities research analysts anticipate that LendingClub Co. will post 0.38 earnings per share for the current year.

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.