Asset Management One Co. Ltd. Has $123,000 Stake in LendingClub Corporation $LC

Asset Management One Co. Ltd. grew its position in LendingClub Corporation (NYSE:LC) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 10,232 shares of the credit services provider’s stock after buying an additional 706 shares during the quarter. Asset Management One Co. Ltd.’s holdings in LendingClub were worth $123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LC. Wealth Enhancement Advisory Services LLC acquired a new stake in LendingClub during the 1st quarter valued at $161,000. KBC Group NV bought a new stake in shares of LendingClub during the first quarter worth $67,000. Edgestream Partners L.P. acquired a new stake in shares of LendingClub in the first quarter valued at $738,000. Victory Capital Management Inc. raised its holdings in shares of LendingClub by 195.7% in the first quarter. Victory Capital Management Inc. now owns 161,723 shares of the credit services provider’s stock valued at $1,669,000 after buying an additional 107,036 shares during the last quarter. Finally, Copperwynd Financial LLC acquired a new position in LendingClub during the 1st quarter worth about $1,079,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LendingClub

In related news, CFO Andrew Labenne sold 20,903 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.04, for a total value of $356,187.12. Following the completion of the sale, the chief financial officer owned 181,750 shares in the company, valued at $3,097,020. This represents a 10.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Sanborn sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $19.29, for a total value of $578,700.00. Following the sale, the chief executive officer directly owned 1,210,070 shares in the company, valued at $23,342,250.30. The trade was a 2.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 113,293 shares of company stock valued at $1,985,787. Corporate insiders own 3.19% of the company’s stock.

LendingClub Trading Down 2.4%

NYSE:LC opened at $16.81 on Friday. LendingClub Corporation has a 1-year low of $7.90 and a 1-year high of $19.88. The business’s 50-day moving average price is $16.53 and its two-hundred day moving average price is $13.52. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 19.10 and a beta of 2.48.

LendingClub (NYSE:LC) last posted its earnings results on Wednesday, October 22nd. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $266.23 million during the quarter, compared to analyst estimates of $256.27 million. LendingClub had a return on equity of 7.81% and a net margin of 10.94%.The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. Sell-side analysts predict that LendingClub Corporation will post 0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LC shares. Citigroup assumed coverage on shares of LendingClub in a research note on Monday, July 7th. They issued a “market perform” rating for the company. Zacks Research raised shares of LendingClub from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $20.00 price objective (up previously from $18.00) on shares of LendingClub in a report on Thursday, October 23rd. JPMorgan Chase & Co. upgraded LendingClub from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $22.00 in a research report on Thursday, October 23rd. Finally, Wall Street Zen upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, LendingClub has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.