14,830 Shares in LendingClub Co. (NYSE:LC) Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC bought a new stake in shares of LendingClub Co. (NYSE:LC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,830 shares of the credit services provider’s stock, valued at approximately $170,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of LendingClub by 223.0% in the 3rd quarter. SG Americas Securities LLC now owns 39,866 shares of the credit services provider’s stock worth $456,000 after purchasing an additional 27,522 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of LendingClub by 212.4% in the second quarter. Cubist Systematic Strategies LLC now owns 345,079 shares of the credit services provider’s stock worth $2,919,000 after buying an additional 234,611 shares in the last quarter. Algert Global LLC grew its holdings in shares of LendingClub by 265.0% during the second quarter. Algert Global LLC now owns 146,305 shares of the credit services provider’s stock valued at $1,238,000 after buying an additional 106,224 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of LendingClub during the second quarter valued at approximately $264,000. Finally, The Manufacturers Life Insurance Company raised its holdings in LendingClub by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 302,844 shares of the credit services provider’s stock worth $2,562,000 after acquiring an additional 1,445 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Jefferies Financial Group increased their target price on LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Compass Point lifted their price objective on LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.07.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.36, for a total value of $193,120.00. Following the completion of the sale, the chief executive officer now owns 1,373,273 shares in the company, valued at $15,600,381.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 51,703 shares of company stock worth $562,705. Corporate insiders own 3.31% of the company’s stock.

LendingClub Trading Up 1.4 %

LC opened at $11.43 on Wednesday. The company’s 50 day moving average is $11.14 and its 200 day moving average is $9.63. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 33.62 and a beta of 2.04. LendingClub Co. has a 12-month low of $4.73 and a 12-month high of $12.87.

LendingClub (NYSE:LC) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. The company’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. As a group, analysts predict that LendingClub Co. will post 0.38 EPS for the current fiscal 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.