nVerses Capital LLC Trims Stock Position in LendingClub Co. (NYSE:LC)

nVerses Capital LLC reduced its stake in shares of LendingClub Co. (NYSE:LC) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,200 shares of the credit services provider’s stock after selling 1,200 shares during the quarter. nVerses Capital LLC’s holdings in LendingClub were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. EntryPoint Capital LLC boosted its holdings in shares of LendingClub by 44.9% during the 1st quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,328 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of LendingClub during the 2nd quarter valued at $72,000. SG Americas Securities LLC boosted its holdings in shares of LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,732 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of LendingClub during the 1st quarter valued at $129,000. Finally, Alpha Cubed Investments LLC bought a new stake in shares of LendingClub during the 3rd quarter valued at $170,000. 74.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the sale, the chief executive officer now owns 1,373,273 shares of the company’s stock, valued at $15,600,381.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 51,703 shares of company stock valued at $562,705 in the last 90 days. 3.31% of the stock is currently owned by insiders.

LendingClub Stock Down 1.9 %

Shares of NYSE LC opened at $12.68 on Monday. The firm’s 50-day moving average price is $11.47 and its 200-day moving average price is $9.88. The company has a market cap of $1.41 billion, a PE ratio of 37.29 and a beta of 2.04. LendingClub Co. has a 52-week low of $4.73 and a 52-week high of $13.63.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LC shares. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $15.00 in a report on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target (up previously from $10.00) on shares of LendingClub in a research note on Wednesday, July 31st. StockNews.com upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Compass Point upped their price target on shares of LendingClub from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.57.

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.