Range Financial Group LLC Makes New Investment in LendingClub Co. (NYSE:LC)

Range Financial Group LLC acquired a new stake in LendingClub Co. (NYSE:LC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 93,250 shares of the credit services provider’s stock, valued at approximately $1,510,000. Range Financial Group LLC owned 0.08% of LendingClub as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of LendingClub by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,898,545 shares of the credit services provider’s stock worth $49,901,000 after acquiring an additional 300,536 shares during the period. State Street Corp grew its holdings in LendingClub by 2.2% in the 3rd quarter. State Street Corp now owns 3,896,816 shares of the credit services provider’s stock valued at $44,541,000 after buying an additional 82,315 shares in the last quarter. Geode Capital Management LLC increased its position in LendingClub by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,559,805 shares of the credit services provider’s stock worth $29,265,000 after buying an additional 42,429 shares during the period. American Century Companies Inc. lifted its holdings in shares of LendingClub by 24.8% during the second quarter. American Century Companies Inc. now owns 1,658,679 shares of the credit services provider’s stock worth $14,032,000 after buying an additional 329,279 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of LendingClub by 98.1% in the third quarter. Point72 Asset Management L.P. now owns 1,547,342 shares of the credit services provider’s stock valued at $17,686,000 after acquiring an additional 766,287 shares during the period. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LC shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Piper Sandler upped their price target on shares of LendingClub from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Maxim Group raised their target price on LendingClub from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

LendingClub Stock Down 5.3 %

Shares of NYSE:LC traded down $0.92 during midday trading on Tuesday, reaching $16.31. 1,980,045 shares of the company traded hands, compared to its average volume of 1,579,652. The firm’s fifty day moving average price is $15.90 and its two-hundred day moving average price is $12.65. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 35.46 and a beta of 2.03. LendingClub Co. has a 12 month low of $7.48 and a 12 month high of $18.75.

LendingClub (NYSE:LC) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the prior year, the business posted $0.05 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Analysts forecast that LendingClub Co. will post 0.47 earnings per share for the current year.

Insider Activity at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $14.89, for a total value of $253,130.00. Following the completion of the transaction, the chief executive officer now owns 1,339,273 shares in the company, valued at $19,941,774.97. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $14.83, for a total transaction of $326,260.00. Following the sale, the general counsel now owns 89,385 shares in the company, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,500 shares of company stock worth $1,158,610 in the last three months. 3.31% of the stock is owned by insiders.

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.