Nordea Investment Management AB lessened its stake in LendingClub Co. (NYSE:LC – Get Rating) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 287,355 shares of the credit services provider’s stock after selling 2,963 shares during the period. Nordea Investment Management AB’s holdings in LendingClub were worth $7,106,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LC. EAM Investors LLC bought a new stake in shares of LendingClub during the 3rd quarter valued at about $3,607,000. Goldman Sachs Group Inc. grew its position in shares of LendingClub by 20.2% during the 3rd quarter. Goldman Sachs Group Inc. now owns 800,102 shares of the credit services provider’s stock valued at $22,595,000 after buying an additional 134,311 shares during the last quarter. Trexquant Investment LP grew its position in shares of LendingClub by 35.1% during the 3rd quarter. Trexquant Investment LP now owns 34,175 shares of the credit services provider’s stock valued at $965,000 after buying an additional 8,870 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of LendingClub during the 3rd quarter valued at about $1,932,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of LendingClub by 2.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,319,868 shares of the credit services provider’s stock valued at $37,273,000 after buying an additional 35,463 shares during the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.
A number of equities research analysts recently weighed in on LC shares. Seaport Res Ptn reaffirmed a “buy” rating on shares of LendingClub in a research report on Tuesday, January 11th. Wedbush decreased their target price on shares of LendingClub from $35.00 to $30.00 in a research report on Monday, February 7th. Zacks Investment Research upgraded shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Saturday, March 5th. Credit Suisse Group decreased their target price on shares of LendingClub from $34.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, January 27th. Finally, Janney Montgomery Scott upgraded shares of LendingClub from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Wednesday, January 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.83.
In other LendingClub news, insider Annie Armstrong sold 3,317 shares of the stock in a transaction on Monday, February 7th. The shares were sold at an average price of $17.37, for a total value of $57,616.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Fergal Stack sold 6,127 shares of the stock in a transaction on Monday, February 28th. The shares were sold at an average price of $18.58, for a total transaction of $113,839.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,135 shares of company stock valued at $542,136. Insiders own 4.48% of the company’s stock.
NYSE:LC opened at $15.95 on Tuesday. LendingClub Co. has a 1 year low of $11.97 and a 1 year high of $49.21. The firm has a fifty day moving average price of $18.43. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 122.70 and a beta of 2.11.
LendingClub (NYSE:LC – Get Rating) last posted its earnings results on Wednesday, January 26th. The credit services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.59. LendingClub had a net margin of 2.27% and a return on equity of 16.23%. The business had revenue of $262.24 million for the quarter, compared to analyst estimates of $247.69 million. During the same period last year, the business posted ($0.24) EPS. Equities analysts anticipate that LendingClub Co. will post 1.39 EPS for the current fiscal year.
LendingClub Company Profile (Get Rating)
LendingClub Corp. operates as an online marketplace that facilitates loans to borrowers and investments. Its products include unsecured personal, secured auto refinance, patient, and education finance loans. The company was founded by Renaud Laplanche and Soulaiman Htite in 2006 and is headquartered in San Francisco, CA.
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