Russell Investments Group Ltd. Trims Stock Holdings in LendingClub Co. (NYSE:LC)

Russell Investments Group Ltd. cut its holdings in shares of LendingClub Co. (NYSE:LCFree Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,406 shares of the credit services provider’s stock after selling 93,110 shares during the period. Russell Investments Group Ltd. owned 0.24% of LendingClub worth $2,302,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of LendingClub by 363.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,999 shares of the credit services provider’s stock valued at $61,000 after purchasing an additional 5,489 shares during the last quarter. Maltin Wealth Management Inc. acquired a new position in LendingClub in the 4th quarter valued at $87,000. Pathstone Family Office LLC purchased a new position in LendingClub during the 3rd quarter worth $65,000. Acadian Asset Management LLC purchased a new position in LendingClub during the 3rd quarter worth $91,000. Finally, CenterBook Partners LP acquired a new stake in shares of LendingClub in the 3rd quarter worth $93,000. 74.08% of the stock is owned by institutional investors and hedge funds.

LendingClub Price Performance

Shares of LC opened at $9.25 on Wednesday. LendingClub Co. has a 1-year low of $4.73 and a 1-year high of $10.92. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 27.19 and a beta of 2.00. The firm has a 50 day simple moving average of $8.37 and a 200-day simple moving average of $7.87.

LendingClub (NYSE:LCGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The company had revenue of $180.69 million for the quarter, compared to analysts’ expectations of $174.52 million. LendingClub had a net margin of 4.69% and a return on equity of 3.04%. During the same period last year, the company earned $0.13 EPS. On average, equities analysts expect that LendingClub Co. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LC. Keefe, Bruyette & Woods increased their price target on shares of LendingClub from $9.50 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. StockNews.com downgraded LendingClub from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of LendingClub in a research note on Wednesday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up previously from $9.50) on shares of LendingClub in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, LendingClub presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

Get Our Latest Stock Analysis on LC

LendingClub Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding LC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingClub Co. (NYSE:LCFree Report).

Institutional Ownership by Quarter for LendingClub (NYSE:LC)

Receive News & Ratings for LendingClub Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LendingClub and related companies with MarketBeat.com's FREE daily email newsletter.