Great West Life Assurance Co. Can held its stake in LendingClub Corporation (NYSE:LC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,500 shares of the credit services provider’s stock at the end of the first quarter. Great West Life Assurance Co. Can’s holdings in LendingClub Corporation were worth $101,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of LC. Malaga Cove Capital LLC increased its stake in LendingClub Corporation by 3.7% in the first quarter. Malaga Cove Capital LLC now owns 27,800 shares of the credit services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in LendingClub Corporation during the fourth quarter valued at $158,000. GSA Capital Partners LLP bought a new stake in LendingClub Corporation during the fourth quarter valued at $166,000. Two Sigma Investments LP bought a new stake in LendingClub Corporation during the fourth quarter valued at $167,000. Finally, Russell Investments Group Ltd. bought a new stake in LendingClub Corporation during the fourth quarter valued at $177,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
LendingClub Corporation (NYSE:LC) traded up 0.58% on Friday, reaching $5.22. 7,174,449 shares of the company traded hands. The stock’s 50 day moving average price is $5.47 and its 200 day moving average price is $5.64. The company’s market capitalization is $2.11 billion. LendingClub Corporation has a one year low of $4.30 and a one year high of $6.78.
LendingClub Corporation (NYSE:LC) last released its quarterly earnings data on Thursday, May 4th. The credit services provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $124.50 million for the quarter, compared to the consensus estimate of $121.63 million. LendingClub Corporation had a negative net margin of 38.40% and a negative return on equity of 14.31%. The firm’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, equities research analysts predict that LendingClub Corporation will post $0.03 EPS for the current fiscal year.
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Several research firms have recently commented on LC. Vetr downgraded shares of LendingClub Corporation from a “strong-buy” rating to a “buy” rating and set a $6.00 target price for the company. in a research report on Tuesday, April 11th. BTIG Research reissued a “buy” rating and set a $9.00 target price on shares of LendingClub Corporation in a research report on Monday, May 8th. Zacks Investment Research raised shares of LendingClub Corporation from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, June 6th. Canaccord Genuity reissued a “hold” rating and set a $7.00 target price on shares of LendingClub Corporation in a research report on Monday, May 15th. Finally, Stifel Nicolaus began coverage on shares of LendingClub Corporation in a research report on Wednesday, April 19th. They set a “hold” rating and a $6.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. LendingClub Corporation currently has a consensus rating of “Hold” and a consensus price target of $6.48.
In other news, insider Timothy Bogan sold 54,090 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $5.84, for a total transaction of $315,885.60. Following the sale, the insider now owns 160,739 shares of the company’s stock, valued at approximately $938,715.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Sameer Gulati sold 125,555 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $5.64, for a total transaction of $708,130.20. Following the sale, the chief operating officer now directly owns 121,898 shares in the company, valued at approximately $687,504.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,239 shares of company stock valued at $2,677,984. 11.40% of the stock is owned by company insiders.
LendingClub Corporation Company Profile
LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors.
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