Renaissance Technologies LLC Sells 212,100 Shares of LendingClub Co. (NYSE:LC)

Renaissance Technologies LLC trimmed its position in shares of LendingClub Co. (NYSE:LC) by 25.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610,225 shares of the credit services provider’s stock after selling 212,100 shares during the quarter. Renaissance Technologies LLC owned 0.55% of LendingClub worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baader Bank Aktiengesellschaft purchased a new stake in shares of LendingClub in the 2nd quarter worth $600,000. Wellington Management Group LLP lifted its holdings 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 worth $11,749,000 after purchasing an additional 857,371 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in LendingClub in the 4th quarter worth approximately $1,758,000. Verition Fund Management LLC purchased a new stake in LendingClub during the 4th quarter valued at approximately $6,115,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of LendingClub during the first quarter valued at approximately $164,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LC shares. Compass Point raised their target price on shares of LendingClub from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods raised their price target on LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Finally, Wedbush increased their price target on shares of LendingClub from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.07.

LendingClub Trading Up 2.1 %

Shares of LC opened at $11.03 on Friday. The firm has a market capitalization of $1.23 billion, a P/E ratio of 32.44 and a beta of 2.04. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $12.87. The firm has a fifty day moving average price of $11.06 and a 200-day moving average price of $9.45.

LendingClub (NYSE:LC) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $0.13 EPS for the quarter, topping 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 business had revenue of $187.20 million for the quarter, compared to the consensus estimate of $177.03 million. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

Insider Buying and Selling at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the sale, the chief executive officer now owns 1,383,362 shares of the company’s stock, valued at approximately $14,179,460.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 34,703 shares of company stock valued at $374,175 in the last ninety days. Corporate insiders own 3.31% of the company’s stock.

About LendingClub

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.