MANA Advisors LLC bought a new position in LendingClub Corp (NYSE:LC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,605 shares of the credit services provider’s stock, valued at approximately $126,000.
Several other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in LendingClub in the third quarter valued at $103,000. Phoenix Investment Adviser LLC bought a new stake in LendingClub in the fourth quarter valued at $124,000. Public Employees Retirement Association of Colorado bought a new stake in LendingClub in the fourth quarter valued at $134,000. Brighton Jones LLC boosted its holdings in LendingClub by 48.2% in the fourth quarter. Brighton Jones LLC now owns 51,074 shares of the credit services provider’s stock valued at $211,000 after acquiring an additional 16,603 shares in the last quarter. Finally, Invictus RG bought a new stake in LendingClub in the third quarter valued at $219,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.
In other LendingClub news, major shareholder Tian Qiao Chen bought 7,696,016 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was acquired at an average price of $3.57 per share, with a total value of $27,474,777.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth D. Denman bought 30,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $3.16 per share, with a total value of $94,800.00. Following the transaction, the director now owns 30,000 shares in the company, valued at approximately $94,800. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,776,016 shares of company stock valued at $27,761,077. 9.72% of the stock is owned by insiders.
LendingClub Corp (NYSE LC) opened at $3.78 on Thursday. The company has a debt-to-equity ratio of 3.22, a current ratio of 5.79 and a quick ratio of 5.47. The stock has a market capitalization of $1,586.80, a PE ratio of -10.22 and a beta of 1.43. LendingClub Corp has a 52-week low of $3.09 and a 52-week high of $6.56.
LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $156.50 million during the quarter, compared to analysts’ expectations of $157.55 million. LendingClub had a negative return on equity of 7.10% and a negative net margin of 26.77%. LendingClub’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. research analysts expect that LendingClub Corp will post -0.08 earnings per share for the current year.
Several research firms recently weighed in on LC. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target (down previously from $7.00) on shares of LendingClub in a report on Friday, December 8th. Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a report on Tuesday. Compass Point upgraded shares of LendingClub from a “sell” rating to a “neutral” rating in a report on Friday, December 8th. Stifel Nicolaus dropped their target price on shares of LendingClub from $5.00 to $4.50 and set a “hold” rating on the stock in a report on Friday, December 8th. Finally, Maxim Group restated a “buy” rating and set a $6.00 target price (down previously from $8.00) on shares of LendingClub in a report on Monday, December 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.24.
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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