Public Employees Retirement Association of Colorado decreased its position in LendingClub Corp (NYSE:LC) by 80.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,482 shares of the credit services provider’s stock after selling 25,932 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in LendingClub were worth $85,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LC. Prudential Financial Inc. increased its position in shares of LendingClub by 9.0% during the 2nd quarter. Prudential Financial Inc. now owns 23,470 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 1,930 shares during the last quarter. Aperio Group LLC bought a new stake in LendingClub in the 2nd quarter valued at $32,000. Joel Isaacson & Co. LLC boosted its stake in LendingClub by 9.7% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 171,478 shares of the credit services provider’s stock valued at $562,000 after purchasing an additional 15,198 shares during the period. Swiss National Bank boosted its stake in LendingClub by 3.0% in the 2nd quarter. Swiss National Bank now owns 559,800 shares of the credit services provider’s stock valued at $1,836,000 after purchasing an additional 16,100 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in LendingClub in the 2nd quarter valued at $54,000.
In other LendingClub news, insider Valerie Kay sold 1,900 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $14.54, for a total value of $27,626.00. Following the completion of the transaction, the insider now owns 53,565 shares of the company’s stock, valued at approximately $778,835.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy Bogan sold 10,463 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.34, for a total value of $150,039.42. Following the completion of the transaction, the insider now directly owns 59,541 shares of the company’s stock, valued at approximately $853,817.94. The disclosure for this sale can be found here. Insiders have sold a total of 24,463 shares of company stock valued at $447,989 in the last three months. 4.20% of the stock is owned by insiders.
LendingClub stock opened at $14.18 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 4.20 and a current ratio of 5.93. LendingClub Corp has a 52 week low of $10.89 and a 52 week high of $18.85. The stock has a market capitalization of $1.26 billion, a P/E ratio of -40.52 and a beta of 1.60. The stock has a fifty day moving average of $12.90 and a 200-day moving average of $9.90.
LendingClub (NYSE:LC) last posted its quarterly earnings results on Tuesday, November 5th. The credit services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. LendingClub had a negative return on equity of 1.02% and a negative net margin of 5.91%. The company had revenue of $204.90 million during the quarter, compared to analysts’ expectations of $204.63 million. During the same quarter in the previous year, the firm earned $0.03 EPS. LendingClub’s revenue was up 10.9% on a year-over-year basis. On average, research analysts forecast that LendingClub Corp will post -0.04 earnings per share for the current year.
A number of analysts have recently weighed in on LC shares. Zacks Investment Research upgraded LendingClub from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, November 9th. ValuEngine upgraded LendingClub from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Maxim Group reiterated a “buy” rating and set a $23.00 target price on shares of LendingClub in a research report on Thursday, November 7th. Finally, BTIG Research cut their target price on LendingClub from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. LendingClub has a consensus rating of “Buy” and an average price target of $20.80.
LendingClub Company Profile
LendingClub Corporation operates an online lending marketplace platform that connects borrowers and investors in the United States. The company's marketplace facilitates various types of loan products for consumers and small businesses, including unsecured personal loans, unsecured education and patient installment loans, auto refinance loans, and small business loans.
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