Point72 DIFC Ltd Reduces Stock Position in LendingClub Co. (NYSE:LC)

Point72 DIFC Ltd lowered its position in shares of LendingClub Co. (NYSE:LC) by 46.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,176 shares of the credit services provider’s stock after selling 13,175 shares during the period. Point72 DIFC Ltd’s holdings in LendingClub were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LC. Charles Schwab Investment Management Inc. boosted its position in LendingClub by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 848,315 shares of the credit services provider’s stock valued at $7,414,000 after buying an additional 16,298 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of LendingClub by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,652,580 shares of the credit services provider’s stock worth $40,664,000 after purchasing an additional 73,515 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of LendingClub in the 4th quarter worth about $131,000. Verition Fund Management LLC purchased a new stake in shares of LendingClub in the 4th quarter worth about $6,115,000. Finally, Cruiser Capital Advisors LLC purchased a new stake in shares of LendingClub in the 4th quarter worth about $143,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Buying and Selling at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the completion of the sale, the chief executive officer now directly owns 1,373,273 shares in the company, valued at approximately $15,600,381.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 34,703 shares of company stock worth $374,175. 3.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BTIG Research assumed coverage on shares of LendingClub in a research report on Friday, June 7th. They issued a “buy” rating and a $12.00 target price for the company. StockNews.com raised shares of LendingClub from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up from $10.00) on shares of LendingClub in a research report on Wednesday, July 31st. Wedbush raised their target price on shares of LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their price target on shares of LendingClub from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.07.

LendingClub Price Performance

Shares of NYSE LC opened at $11.03 on Friday. LendingClub Co. has a 1 year low of $4.73 and a 1 year high of $12.87. The stock has a market cap of $1.23 billion, a P/E ratio of 32.44 and a beta of 2.04. The firm has a 50-day moving average of $11.06 and a 200 day moving average of $9.45.

LendingClub (NYSE:LC) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $177.03 million. LendingClub had a net margin of 5.61% and a return on equity of 3.38%. LendingClub’s revenue was down 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Research analysts expect that LendingClub Co. will post 0.38 earnings per share for the current fiscal year.

About LendingClub

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.