Financial Avengers Inc. Reduces Stock Holdings in LendingClub Co. (NYSE:LC)

Financial Avengers Inc. decreased its holdings in LendingClub Co. (NYSE:LC) by 12.5% in the third quarter, HoldingsChannel.com reports. The fund owned 7,000 shares of the credit services provider’s stock after selling 1,000 shares during the period. Financial Avengers Inc.’s holdings in LendingClub were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LC. Assenagon Asset Management S.A. raised its holdings in LendingClub by 120.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,517,986 shares of the credit services provider’s stock worth $17,351,000 after purchasing an additional 828,958 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in 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 worth $17,686,000 after purchasing an additional 766,287 shares in the last quarter. American Century Companies Inc. raised its holdings in LendingClub by 24.8% in 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 purchasing an additional 329,279 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in LendingClub by 5.4% in 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 purchasing an additional 300,536 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in LendingClub in the second quarter worth $2,412,000. Institutional investors own 74.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LC shares. Keefe, Bruyette & Woods increased their price objective on LendingClub from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of LendingClub in a report on Thursday, October 24th. Compass Point raised their price target on LendingClub from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 25th. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of LendingClub in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LendingClub presently has an average rating of “Moderate Buy” and an average target price of $16.00.

LendingClub Stock Performance

NYSE LC opened at $15.41 on Wednesday. LendingClub Co. has a one year low of $6.56 and a one year high of $17.15. The stock has a 50-day moving average of $14.30 and a 200 day moving average of $11.55. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.50 and a beta of 2.02.

LendingClub (NYSE:LC) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.13 EPS for the quarter, topping 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 company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $190.40 million. During the same period last year, the company earned $0.05 EPS. LendingClub’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts predict that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LendingClub news, General Counsel Jordan Cheng sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $14.83, for a total value of $326,260.00. Following the transaction, the general counsel now directly owns 89,385 shares of the company’s stock, valued at approximately $1,325,579.55. This trade represents a 19.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total value of $188,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,356,273 shares in the company, valued at $15,041,067.57. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,500 shares of company stock worth $1,073,100. 3.31% of the stock is owned by corporate insiders.

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.