Teacher Retirement System of Texas lifted its position in shares of LendingClub Corp (NYSE:LC) by 323.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,514 shares of the credit services provider’s stock after purchasing an additional 80,602 shares during the period. Teacher Retirement System of Texas’ holdings in LendingClub were worth $436,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of LendingClub during the third quarter worth about $103,000. Phoenix Investment Adviser LLC purchased a new stake in shares of LendingClub during the fourth quarter worth about $124,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of LendingClub during the fourth quarter worth about $134,000. Invictus RG purchased a new stake in shares of LendingClub during the third quarter worth about $219,000. Finally, Prudential Financial Inc. boosted its holdings in shares of LendingClub by 65.6% during the third quarter. Prudential Financial Inc. now owns 37,830 shares of the credit services provider’s stock worth $230,000 after purchasing an additional 14,980 shares during the period. 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth D. Denman bought 30,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of $3.16 per share, with a total value of $94,800.00. Following the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $94,800. The disclosure for this purchase can be found here. Insiders have acquired 7,776,016 shares of company stock valued at $27,761,077 in the last ninety days. Insiders own 9.72% of the company’s stock.
LendingClub Corp (NYSE:LC) opened at $3.90 on Friday. LendingClub Corp has a one year low of $3.09 and a one year high of $6.56. The company has a current ratio of 5.79, a quick ratio of 5.47 and a debt-to-equity ratio of 3.22.
LendingClub (NYSE:LC) last announced its earnings results on Tuesday, February 20th. The credit services provider reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). LendingClub had a negative net margin of 26.77% and a negative return on equity of 7.10%. The business had revenue of $156.50 million for the quarter, compared to the consensus estimate of $157.55 million. During the same period in the prior year, the business posted ($0.02) EPS. LendingClub’s revenue for the quarter was up 19.9% on a year-over-year basis. sell-side analysts expect that LendingClub Corp will post -0.08 earnings per share for the current fiscal year.
LC has been the subject of a number of research reports. Zacks Investment Research raised shares of LendingClub from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Guggenheim downgraded shares of LendingClub from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Friday, February 23rd. Citigroup decreased their price target on shares of LendingClub from $4.25 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 22nd. Credit Suisse Group decreased their price target on shares of LendingClub from $5.60 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Finally, Maxim Group reissued a “buy” rating and issued a $6.00 price target on shares of LendingClub in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.24.
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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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