XTX Topco Ltd Decreases Position in LendingClub Co. (NYSE:LC)

XTX Topco Ltd lessened its stake in LendingClub Co. (NYSE:LC) by 69.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,735 shares of the credit services provider’s stock after selling 28,454 shares during the quarter. XTX Topco Ltd’s holdings in LendingClub were worth $108,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LC. International Assets Investment Management LLC raised its position in shares of LendingClub by 5.3% in the second quarter. International Assets Investment Management LLC now owns 19,900 shares of the credit services provider’s stock valued at $168,000 after purchasing an additional 1,000 shares during the period. ProShare Advisors LLC grew its stake in LendingClub by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 19,518 shares of the credit services provider’s stock valued at $172,000 after buying an additional 1,536 shares in the last quarter. SG Americas Securities LLC raised its holdings in LendingClub by 16.3% during the 2nd quarter. SG Americas Securities LLC now owns 12,344 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,732 shares during the period. Swiss National Bank lifted its position in shares of LendingClub by 1.0% during the first quarter. Swiss National Bank now owns 216,360 shares of the credit services provider’s stock worth $1,902,000 after acquiring an additional 2,100 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of LendingClub by 44.9% in the first quarter. EntryPoint Capital LLC now owns 7,514 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 2,328 shares during the period. Hedge funds and other institutional investors own 74.08% of the company’s stock.

Insider Activity at LendingClub

In other LendingClub news, CEO Scott Sanborn sold 17,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.36, for a total transaction of $193,120.00. Following the transaction, the chief executive officer now directly owns 1,373,273 shares in the company, valued at $15,600,381.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 34,703 shares of company stock valued at $374,175. Corporate insiders own 3.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LC. JPMorgan Chase & Co. increased their price objective on LendingClub from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group raised their price objective 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. Wedbush upped their target price on shares of LendingClub from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of LendingClub from $10.00 to $11.50 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $10.00) on shares of LendingClub in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

LendingClub Stock Performance

LendingClub stock opened at $11.15 on Wednesday. LendingClub Co. has a fifty-two week low of $4.73 and a fifty-two week high of $12.87. The stock has a market cap of $1.24 billion, a P/E ratio of 33.62 and a beta of 2.04. The firm’s fifty day moving average price is $11.09 and its 200-day moving average price is $9.52.

LendingClub (NYSE:LC) last released its quarterly earnings results 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. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The business had revenue of $187.20 million for the quarter, compared to the consensus estimate of $177.03 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, analysts predict that LendingClub Co. will post 0.38 earnings per share for the current year.

LendingClub Profile

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.