UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 23,280 Shares of LendingClub Co. (NYSE:LC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in LendingClub Co. (NYSE:LC) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,220 shares of the credit services provider’s stock after selling 23,280 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.16% of LendingClub worth $2,037,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in shares of LendingClub in the third quarter worth $32,000. FMR LLC lifted its holdings in LendingClub by 32.1% during the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider’s stock worth $67,000 after purchasing an additional 1,424 shares in the last quarter. Blue Trust Inc. boosted its stake in LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 5,247 shares during the period. nVerses Capital LLC purchased a new position in LendingClub during the 2nd quarter valued at about $71,000. Finally, Innealta Capital LLC bought a new stake in shares of LendingClub during the second quarter valued at about $72,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LendingClub

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.09, for a total transaction of $188,530.00. Following the transaction, the chief executive officer now directly owns 1,356,273 shares of the company’s stock, valued at approximately $15,041,067.57. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Morris sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the completion of the sale, the director now directly owns 203,348 shares of the company’s stock, valued at $2,920,077.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,500 shares of company stock worth $1,073,100. Insiders own 3.31% of the company’s stock.

LendingClub Stock Up 1.4 %

LendingClub stock opened at $16.56 on Monday. The firm has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $11.69. LendingClub Co. has a twelve month low of $7.48 and a twelve month high of $17.15. The company has a market capitalization of $1.86 billion, a PE ratio of 36.00 and a beta of 2.02.

LendingClub (NYSE:LC) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $190.40 million. During the same period in the prior year, the business posted $0.05 EPS. LendingClub’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that LendingClub Co. will post 0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LC. Keefe, Bruyette & Woods lifted their price target on LendingClub from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of LendingClub in a research report on Thursday, October 24th. Maxim Group increased their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com downgraded shares of LendingClub from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 target price (up previously from $14.00) on shares of LendingClub in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.