Ergoteles LLC Invests $179,000 in LendingClub Co. (NYSE:LC)

Ergoteles LLC bought a new position in LendingClub Co. (NYSE:LC – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,240 shares of the credit services provider’s stock, valued at approximately $179,000.

Several other large investors have also recently modified their holdings of LC. Lazard Asset Management LLC purchased a new position in LendingClub during the first quarter valued at approximately $30,000. PNC Financial Services Group Inc. grew its stake in LendingClub by 367.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,607 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 2,049 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in LendingClub by 251.3% during the first quarter. Point72 Hong Kong Ltd now owns 3,861 shares of the credit services provider’s stock valued at $61,000 after acquiring an additional 2,762 shares in the last quarter. Captrust Financial Advisors grew its stake in LendingClub by 1,610.3% during the first quarter. Captrust Financial Advisors now owns 6,499 shares of the credit services provider’s stock valued at $103,000 after acquiring an additional 6,119 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in LendingClub during the third quarter valued at approximately $97,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Janney Montgomery Scott cut shares of LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday, January 26th. Maxim Group decreased their price target on shares of LendingClub from $20.00 to $15.00 in a report on Tuesday, January 31st. Finally, StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a report on Friday, February 24th.

LendingClub Stock Down 1.4 %

LC opened at $8.86 on Wednesday. The stock has a market cap of $944.22 million, a PE ratio of 3.22 and a beta of 1.96. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.05. LendingClub Co. has a 52 week low of $8.23 and a 52 week high of $17.48. The business’s fifty day simple moving average is $9.54 and its 200 day simple moving average is $10.58.

LendingClub (NYSE:LC – Get Rating) last released its earnings results on Wednesday, January 25th. The credit services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). LendingClub had a net margin of 24.40% and a return on equity of 13.75%. The firm had revenue of $262.70 million during the quarter, compared to the consensus estimate of $258.37 million. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that LendingClub Co. will post 0.53 earnings per share for the current fiscal year.

LendingClub Company Profile

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LendingClub Corp. engages in an online marketplace that facilitates loans to borrowers and investments. It operates through the LendingClub Bank and LendingClub Corporation (Parent Only) segments. The LendingClub Bank segment offers a full complement of financial products and solutions, including loans, leases and deposits.