GSA Capital Partners LLP Boosts Holdings in LendingClub Corporation (NYSE:LC)

GSA Capital Partners LLP boosted its position in LendingClub Corporation (NYSE:LC) by 98.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,336 shares of the credit services provider’s stock after purchasing an additional 147,733 shares during the quarter. LendingClub comprises 0.3% of GSA Capital Partners LLP’s investment portfolio, making the stock its 11th biggest position. GSA Capital Partners LLP owned about 0.26% of LendingClub worth $3,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LC. Comerica Bank purchased a new stake in shares of LendingClub during the 4th quarter valued at $37,000. Sterling Capital Management LLC raised its position in shares of LendingClub by 818.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider’s stock valued at $57,000 after buying an additional 3,119 shares in the last quarter. National Bank of Canada FI raised its position in shares of LendingClub by 150.6% during the 4th quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider’s stock valued at $66,000 after buying an additional 2,448 shares in the last quarter. KBC Group NV bought a new position in shares of LendingClub during the 1st quarter valued at $67,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of LendingClub by 95.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 9,526 shares of the credit services provider’s stock valued at $98,000 after purchasing an additional 4,651 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LC has been the topic of several recent research reports. Wall Street Zen lowered shares of LendingClub from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Stephens initiated coverage on shares of LendingClub in a report on Thursday, June 12th. They set an “overweight” rating and a $15.00 target price on the stock. Citizens Jmp initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods reduced their target price on shares of LendingClub from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Citigroup initiated coverage on shares of LendingClub in a report on Monday, July 7th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

LendingClub Stock Up 1.1%

Shares of LendingClub stock opened at $12.97 on Tuesday. The firm has a market cap of $1.48 billion, a PE ratio of 29.48 and a beta of 2.44. LendingClub Corporation has a 12-month low of $7.90 and a 12-month high of $18.75. The company’s fifty day simple moving average is $11.53 and its two-hundred day simple moving average is $11.78.

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 analysts’ consensus estimates of $0.10. The business had revenue of $217.71 million for the quarter, compared to analyst estimates of $213.71 million. LendingClub had a net margin of 6.16% and a return on equity of 4.04%. The company’s revenue was up 21670.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. As a group, sell-side analysts expect that LendingClub Corporation will post 0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LendingClub news, CEO Scott Sanborn sold 5,250 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $12.98, for a total value of $68,145.00. Following the sale, the chief executive officer owned 1,283,175 shares of the company’s stock, valued at $16,655,611.50. This trade represents a 0.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Zeisser bought 20,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the purchase, the director directly owned 174,138 shares in the company, valued at approximately $1,628,190.30. This represents a 12.98% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 31,500 shares of company stock worth $355,110. Insiders own 3.31% of the company’s stock.

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.