LendingClub Co. (NYSE:LC) Shares Purchased by Quest Partners LLC

Quest Partners LLC increased its position in shares of LendingClub Co. (NYSE:LC) by 196.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,214 shares of the credit services provider’s stock after purchasing an additional 93,506 shares during the period. Quest Partners LLC owned 0.13% of LendingClub worth $1,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft purchased a new stake in shares of LendingClub during the 2nd quarter valued at approximately $600,000. GSA Capital Partners LLP grew its holdings in shares of LendingClub by 47.3% during the 3rd quarter. GSA Capital Partners LLP now owns 214,192 shares of the credit services provider’s stock worth $2,448,000 after purchasing an additional 68,791 shares during the period. International Assets Investment Management LLC increased its position in shares of LendingClub by 813.3% during the 3rd quarter. International Assets Investment Management LLC now owns 181,737 shares of the credit services provider’s stock worth $2,077,000 after purchasing an additional 161,837 shares during the last quarter. Interval Partners LP raised its holdings in LendingClub by 54.3% in the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after buying an additional 174,130 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in LendingClub by 45.0% in the second quarter. Assenagon Asset Management S.A. now owns 689,028 shares of the credit services provider’s stock valued at $5,829,000 after buying an additional 213,823 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $11.09, for a total value of $188,530.00. Following the transaction, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jordan Cheng sold 22,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 89,385 shares in the company, valued at $1,325,579.55. This represents a 19.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,500 shares of company stock worth $996,940. Corporate insiders own 3.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a research note on Thursday, October 24th. Keefe, Bruyette & Woods upgraded LendingClub from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. Compass Point lifted their price objective on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their target price on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Wedbush lifted their target price on LendingClub from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.38.

LendingClub Stock Performance

Shares of LC opened at $15.19 on Tuesday. LendingClub Co. has a 1 year low of $5.41 and a 1 year high of $16.16. The stock has a market capitalization of $1.71 billion, a PE ratio of 32.43 and a beta of 2.01. The stock has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $10.75.

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

About LendingClub

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.