New York State Teachers Retirement System Invests $97,000 in LendingClub Co. (NYSE:LC)

New York State Teachers Retirement System acquired a new position in shares of LendingClub Co. (NYSE:LCGet Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,800 shares of the credit services provider’s stock, valued at approximately $97,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in LendingClub by 6.8% during the first quarter. Vanguard Group Inc. now owns 9,801,535 shares of the credit services provider’s stock worth $154,668,000 after buying an additional 626,217 shares during the last quarter. State Street Corp lifted its holdings in LendingClub by 11.8% during the 2nd quarter. State Street Corp now owns 2,285,680 shares of the credit services provider’s stock valued at $26,720,000 after purchasing an additional 241,019 shares during the last quarter. Bank of America Corp DE lifted its holdings in LendingClub by 154.0% during the 1st quarter. Bank of America Corp DE now owns 1,990,352 shares of the credit services provider’s stock valued at $31,408,000 after purchasing an additional 1,206,662 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of LendingClub by 98.9% in the second quarter. Point72 Asset Management L.P. now owns 1,989,500 shares of the credit services provider’s stock valued at $23,257,000 after purchasing an additional 989,200 shares during the period. Finally, Sei Investments Co. raised its position in shares of LendingClub by 14.0% in the first quarter. Sei Investments Co. now owns 1,569,704 shares of the credit services provider’s stock valued at $24,760,000 after purchasing an additional 192,786 shares during the period. 81.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LC. Maxim Group decreased their price target on shares of LendingClub from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 31st. StockNews.com initiated coverage on LendingClub in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wedbush reduced their target price on shares of LendingClub from $20.00 to $15.00 in a research report on Thursday, October 27th.

Insider Transactions at LendingClub

In other news, Director Allan R. Landon acquired 5,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average cost of $10.01 per share, for a total transaction of $50,050.00. Following the completion of the transaction, the director now directly owns 28,340 shares in the company, valued at $283,683.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Ronnie Momen sold 28,607 shares of the stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $10.08, for a total value of $288,358.56. Following the completion of the transaction, the insider now owns 180,173 shares of the company’s stock, valued at $1,816,143.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan R. Landon acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average price of $10.01 per share, with a total value of $50,050.00. Following the completion of the transaction, the director now owns 28,340 shares in the company, valued at $283,683.40. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 22,300 shares of company stock valued at $214,646. Company insiders own 3.22% of the company’s stock.

LendingClub Trading Up 6.8 %

Shares of NYSE:LC opened at $10.32 on Friday. The business’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $11.59. LendingClub Co. has a 1 year low of $8.23 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.11 and a quick ratio of 1.07. The company has a market capitalization of $1.08 billion, a P/E ratio of 3.69 and a beta of 1.92.

LendingClub (NYSE:LCGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The credit services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. LendingClub had a return on equity of 21.55% and a net margin of 24.88%. The company had revenue of $304.91 million for the quarter, compared to analysts’ expectations of $294.95 million. On average, research analysts anticipate that LendingClub Co. will post 1.39 EPS for the current fiscal year.

About LendingClub

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LendingClub Corporation, operates as a bank holding company for LendingClub Bank, National Association that provides range of financial products and services through a technology-driven platform in the United States. The company provides commercial and industrial, commercial real estate, small business, and equipment loans, as well as leases equipment; and unsecured personal and auto, patient finance, and education finance loans.

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Institutional Ownership by Quarter for LendingClub (NYSE:LC)

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