Arizona State Retirement System Increases Stake in LendingClub Co. (NYSE:LC)

Arizona State Retirement System raised its stake in shares of LendingClub Co. (NYSE:LC – Get Rating) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,249 shares of the credit services provider’s stock after buying an additional 1,478 shares during the quarter. Arizona State Retirement System’s holdings in LendingClub were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in LendingClub during the 1st quarter valued at approximately $30,000. PNC Financial Services Group Inc. boosted its position in shares of LendingClub by 367.2% during the 1st 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 during the last quarter. Lansing Street Advisors bought a new position in shares of LendingClub during the 4th quarter valued at approximately $43,000. Asset Management One Co. Ltd. boosted its position in shares of LendingClub by 45.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 6,402 shares of the credit services provider’s stock valued at $55,000 after acquiring an additional 2,013 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in shares of LendingClub by 251.3% during the 1st 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 during the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LC. Keefe, Bruyette & Woods lowered their target price on LendingClub from $12.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. StockNews.com began coverage on LendingClub in a research report on Thursday, May 18th. They set a “sell” rating for the company. Maxim Group lowered their target price on LendingClub from $20.00 to $15.00 in a research report on Tuesday, January 31st. Janney Montgomery Scott downgraded LendingClub from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Thursday, January 26th. Finally, JPMorgan Chase & Co. assumed coverage on LendingClub in a research report on Tuesday, April 11th. They issued an “overweight” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.50.

LendingClub Stock Up 2.1 %

Shares of LC opened at $8.29 on Wednesday. LendingClub Co. has a 52-week low of $6.30 and a 52-week high of $16.41. The company has a market cap of $890.93 million, a PE ratio of 3.45 and a beta of 1.94. The business has a fifty day moving average of $7.09 and a 200 day moving average of $8.71. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.03.

LendingClub (NYSE:LC – Get Rating) last released its earnings results on Wednesday, April 26th. The credit services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. LendingClub had a return on equity of 10.45% and a net margin of 22.96%. The business had revenue of $245.70 million during the quarter, compared to the consensus estimate of $237.32 million. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, sell-side analysts expect that LendingClub Co. will post 0.22 EPS for the current year.

Insider Transactions at LendingClub

In other LendingClub news, Director Stephen M. Cutler bought 7,407 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $6.75 per share, for a total transaction of $49,997.25. Following the completion of the transaction, the director now owns 14,806 shares in the company, valued at $99,940.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Stephen M. Cutler purchased 7,407 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average price of $6.75 per share, for a total transaction of $49,997.25. Following the completion of the purchase, the director now owns 14,806 shares in the company, valued at approximately $99,940.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen M. Cutler purchased 7,250 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were purchased at an average price of $6.80 per share, for a total transaction of $49,300.00. Following the purchase, the director now owns 7,399 shares of the company’s stock, valued at approximately $50,313.20. The disclosure for this purchase can be found here. Corporate insiders own 3.22% of the company’s stock.

LendingClub 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.