62,697 Shares in LendingClub Co. (NYSE:LC) Bought by Numerai GP LLC

Numerai GP LLC bought a new position in LendingClub Co. (NYSE:LC) in the 4th quarter, Holdings Channel.com reports. The firm bought 62,697 shares of the credit services provider’s stock, valued at approximately $1,015,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in LendingClub by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,248 shares of the credit services provider’s stock worth $441,000 after acquiring an additional 748 shares during the period. Summit Investment Advisors Inc. boosted its holdings in LendingClub by 9.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,563 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 984 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider’s stock valued at $97,000 after purchasing an additional 1,975 shares during the period. New York State Common Retirement Fund boosted its stake in shares of LendingClub by 7.3% in the fourth quarter. New York State Common Retirement Fund now owns 29,316 shares of the credit services provider’s stock valued at $475,000 after purchasing an additional 2,000 shares during the period. Finally, Comerica Bank purchased a new position in LendingClub in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of LendingClub stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $10.00, for a total transaction of $52,500.00. Following the sale, the chief executive officer now owns 1,303,032 shares of the company’s stock, valued at $13,030,320. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Zeisser acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the purchase, the director now owns 174,138 shares of the company’s stock, valued at approximately $1,628,190.30. This represents a 12.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 22,750 shares of company stock worth $257,985 in the last ninety days. 3.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of LendingClub from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods reduced their price objective on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (down previously from $20.00) on shares of LendingClub in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.75.

LendingClub Stock Down 2.3%

Shares of NYSE LC opened at $11.14 on Thursday. The firm’s 50-day moving average price is $10.25 and its two-hundred day moving average price is $13.44. LendingClub Co. has a 52-week low of $7.81 and a 52-week high of $18.75. The stock has a market capitalization of $1.27 billion, a P/E ratio of 24.76 and a beta of 2.35.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $217.71 million for the quarter, compared to the consensus estimate of $213.71 million. LendingClub had a return on equity of 4.16% and a net margin of 6.52%. The business’s revenue was up 21670.0% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. As a group, equities research analysts expect that LendingClub Co. will post 0.72 earnings per share for the current year.

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.